Sadly, credit card fraud and identity theft tend to go up around the holidays, so right after the holidays is a great time to check your credit report. This article will tell you when and how to check your credit report, as well as why you should.
Reasons why you should look at your credit report
- More and more people depend on their credit scores for things like auto insurance, jobs, etc.
- To see if there has been fraud or identity theft
- To look for mistakes
- To get the best rates of interest
When you should check your report:
- Once a year if you have good credit and don't plan to buy anything big soon.
- If you're making a plan to get out of debt or fix your credit, you should.
- If you think someone has stolen your identity,
- Before making a big purchase like a house, car, etc., you should get your credit report 6 months in advance so you have time to fix any mistakes.
- If you've been turned down for a credit card, loan, or other product or service because of your credit, here's what you can do (you are entitled to a free credit report if you have been denied credit based on information found in your report)
Checking your credit:
There are three credit reporting agencies: Equifax, Experian, and TransUnion. Each year, you are entitled to one free credit report from each of them. The three agencies don't always share the same information, so it's important to check with all of them.
You can order all three credit reports at once, but it might be better to check one company one month, wait a few months, then check another company, and then the third company a few months later. This way, you'll get three free credit reports a year and check them more than once, making it more likely that you'll find mistakes or fraud.
You can get your free credit report online by going to www.annualcreditreport.com. This is the only official way for people to check their credit report online for free from a source they can trust. There are ads and websites for other companies that say they will give you your credit report online for free, but they are usually trying to sell you something or are trying to scam you.
You can also call 1-877-322-8228 or write to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281, to get your free credit report.
Lastly, you can buy a 3-in-1 report, which is basically getting all three reports from each of the credit bureaus. This is a good idea if you've never asked for your credit report before or if you think someone is trying to steal your identity. At www.myfico.com, you can buy a 3-in-1 report on your credit.
It's important to check your credit report every so often, no matter what time of year it is, to make sure there are no mistakes and that you haven't been a victim of identity theft or fraud.
But it's even more important to check your credit report right after the holidays to make sure you weren't a victim of fraud during the busiest shopping days of the year.
