It seems that every day we are inundated with important numbers: ID numbers, phone numbers, confirmation numbers, cholesterol levels. But one of the most important numbers that you need to not only know but routinely check up on is your credit score.
This number can help determine if you will qualify for future loans and credit cards. Just like your blood pressure can be the center for your personal well-being, your credit score is the centerpiece of your financial well-being. So here is exactly what you need to know about monitoring your credit (https://www.totalmortgage.com/blog/mortgage-rates/why-you-should-be-monitoring-your-credit/32221).
Why should you check your credit? First and foremost, credit checks are an easy way to make sure that no one is trying to steal your identity so that they can get a line of credit in your name. But you also want to know what other people see when they check your credit. It’s not just banks and credit card companies that do this. A prospective employer may check your credit as part of a background check.
Check your accounts—It’s important that you routinely check all of your accounts, not just your checking. Make sure that all transactions on your credit cards are legitimate and things that you actually purchased.
Get a free credit report—It is possible to get a free credit report every four months from annualcreditreport.com. This will show you all of your credit cards and loans, including payments and transactions. You can also usually get a free credit report through your credit card company as well. It’s not necessary to pay for an expensive credit monitoring service when many options are free.