by admin | January 9, 2018 7:24 pm
Just like when you fall ill, when you fall behind on your payments you need to check your credit score from time to time. The only difference is that instead of taking your temperature, you need to check your credit report. Also, it is not possible to know how good or bad your credit is immediately after reviewing your credit report.
What’s on Your Credit Report?
Your information and your payment history are contained in your credit report. If you are wondering, how often should I check my credit report, then keep in mind you should check your credit report at least once every year. If you have a reason to check more often, then do so.
Get a Free Copy from the Major Credit Bureaus
The major credit bureaus all must provide you with a free copy of your credit report. It is this report that is used by the credit agencies to calculate your credit score. Thus, it makes sense for you to ensure that the information contained in the report is accurate and free of errors. Credit bureaus do not share your credit information amongst themselves. This means that different credit bureaus can have separate reports and there is always a chance that errors might creep into the credit reports.
Check Your Report Once Every 365 Days
So, how many times can you check your credit score? Your credit report is used by lenders to decide whether to extend credit to you. This report also helps the lender choose how much interest to charge you. Thus, ideally, you should check your credit report at least once every 365 days. If you are planning on applying for a Las Vegas bad credit loan
and if that loan is for buying a car, then you will want to check your credit score once every 30 days. This allows you to keep a close watch on your credit score.
Fix Errors in the Credit Report
Once you check your credit report and you find something wrong, then you will need to find ways to improve your credit score. The good news is there are a few credit monitoring services that allow you to check your credit report as many times as you want. This means you can even check your credit report every day. This can prove to be useful because your score can fluctuate on a frequent basis so when you check daily, you will know your latest credit score.
Credit Scores Change from Day to Day
Lenders also understand that your credit score changes from one day to the next. They also realize that minor fluctuations are not very important. The only time these fluctuations are significant is when your credit score is on the verge of being bad or is bad. If your credit score is acceptable, then these changes will not have much meaning for the lender.
Check Your Report Every Month
If you check your credit score once every 30 days, then you will be able to form an idea about trends. Just to ensure you are doing things right, you need to compare the same credit score each time and don’t worry too much about minor fluctuations. Once you notice a significant change in your credit score, you must then find out the reasons for such a shift.
Easy to Check Your Credit Report
Checking your credit score may be as easy as just looking at different numbers in the monthly credit card statement. There are also consumer websites that provide you with free credit scores. These sites also offer advice that you can use to improve your credit score, so you can receive no credit check loans in Vegas. Your credit score is just as crucial for you as it is for the lenders.
Many Reasons to Check Your Credit Report
You may want to check your credit score for reasons other than to obtain credit. For example, you may want to know your credit score monthly. This is important in case you suspect your identity has been stolen or if you have become a victim of identity fraud. The same holds true in case your personal information has been compromised. People also check their credit scores every month after going through a divorce. Employees who are looking for a job may even want to check their credit score because it plays a part in the employment process.
Check Your Report for Free Once Every Year
You may be wondering how often I can check my credit score for free? The Fair Credit Reporting Act mandates that everyone is entitled to check their credit score once every year for free. The best course of action is for you to request a free credit report from different credit agencies once every four months. Also, you can get a free report whenever lenders refuse to extend you credit or when they offer less favorable terms. The same holds true when you lose your job and are looking for a new job. You can request a free annual report from the credit bureaus via a phone call or through the mail. The good news is when you check your credit score, it will not affect your credit score.
Source URL: http://quickloansquickcasha.com/is-checking-your-credit-score-in-vegas-bad/
Copyright ©2018 Quick Loans Quick Cash A unless otherwise noted.