Keep Your Credit Score Safe Using Free Credit Reports - By: James English

Millions of Americans across the country are in credit trouble that they don’t even know about. Are you one of them? A credit report is the fastest and most complete way to determine where your credit stands, and also lets you know what specific companies are accessing your report and keeping accounts open under your name. For thousands of people each day, requesting a credit report and monitoring service can provide not only peace of mind, but also much-needed information about potential identity theft or incorrect charges on their accounts.
When you receive your free credit report, you’ll gain access to a wealth of information about your personal credit situation which can help you to organize for finances, correct issues with outstanding creditors, and also find out if anyone has tried to tamper with your identity. A 3-in-1 report is the most effective tool to help you gain the best perspective on your credit, because it includes details from all three of the major bureaus. The 3 credit bureaus are Experian, TranUnion, and Equifax, and each agency reports and records slightly different information (depending on the types of accounts that you have open). Not all your information will be revealed on all your reports, which is why getting all 3 reports at once will maximize your potential to catch any anomalies and keep your credit score safe in the long run.
Once you receive your report, here’s the best way to evaluate the information contained within.
First off, you’ll want to skim through the report, and see if there are any accounts that you’re not sure you recognize. They might appear in any section of your report, so be sure to check closely. Furthermore, sometimes the name of your credit company may differ from the name that you actually pay your bill to, so double check the details with your records.
Next up, you’ll want to start going through your report while comparing it to your personal records. This means that you’ll probably need to open your files and pull out your last year or two of credit payments. Double check that your credit limits are accurate, as well as verifying that any and all payments that you’ve made are reflected on your report. The more thorough your records, the more accurately you’ll be able to assess your report.
If you discover any records that you’re not familiar with – take action immediately! You’ll be provided with the contact name and information of the companies that state that they do business with you. You can choose to go directly to the creditor, or alternatively you can use the bureau as a communications facilitator. This is especially true if you believe you’ve discovered identity theft on your report. Most legitimate creditors and banks have 24 hour customer service lines. You’ll also want to make photocopies of the section of the report that pertains to them, so that if you need to file an identity theft report with your police department, you’ll have clear and documented evidence to support your claim.
Assuming that you don’t have any issues with your report, the next thing that you’ll need to do is develop an action plan for moving forward. One good way to create a plan is to put all your credit accounts in a list and prioritize them on a few different variables. For instance, if you have 3 credit cards, order them from the highest interest rate to the lowest. You want to pay down your highest interest rate cards and accounts first, so focus on paying the largest portion of your monthly balance to those cards. Furthermore, if you have an outstanding auto loan, make sure that your payments are fully up to date, because that will help you secure future auto loans or large purchases down the road (such as a home).
The final step to using your credit report to keep your score safe is to apply for a monitoring and reporting service. A great example can be found at the site ImmediateCreditReports.com, where you can apply for your 3-in-1 credit report, credit score, and a monthly alert program. Your alerts will keep you up to date as things change on your report, especially when you pay off and close accounts or you apply for new ones. Your credit is important and worth protecting, so follow these simple steps outlined above and you’ll be ready to enjoy trouble free credit use for years to come.

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