Check Your Credit Rating

You have probably seen a million advertisements online to check your credit rating.  Your credit rating is an important tool for you to loan money, get new credit cards and finance a mortgage when buying a house.  With your credit rating being so important these days as well as the possibility of identity threat, most professionals advise you to check your credit rating each year for mistakes, identity theft and to know your credit score.  Here are some tips.

Receiving your credit report is extremely easy and free in most cases.  Many states have laws passed that anyone can receive a free copy of their credit report once a year. A credit report is an important document that tells you your credit score, any new loans or credit cards that have been taken out and if previous loans were repaid.  Your credit report is what the bank, credit card company, landlord, or job recruiter looks at to determine if you are a responsible person.

There are three main credit reporting agencies in the US and you can contact all three of them to receive your credit report.  They are Trans Union, Equifax and Experian.  If you want to make sure that you are not a victim of identity theft, check your credit report twice a year to make sure that no new loans or cards have been taken out.  If you lose your wallet or know that your identity has been compromised, a good strategy is to contact all three reporting agencies to tell them that your Identity has been compromised. 

Before allowing any loans to be issued, they will confirm with you to make sure that you are the legitimate identity.  If you are looking to keep up to date with your credit or protect yourself from identity theft, take a look at the above suggestions.