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Reasons Why You Must Get Your Credit Report

By Ruth Racey
Published: Sunday, December 13th, 2009

As long as you are using credit cards, it is inevitable that you will have your own credit report. However, the sad fact in this case is that there are a lot of consumers who actually are not aware of the importance of this piece of document. 

In addition, it is also true that there are a lot of people who are simply ignorant of the value of their respective credit report. The fact is that, it is in your credit report where all the transactions that you made using your credit cards are recorded. And this data is also used by the three major credit agencies in the US, TransUnion, Equifax and Experian. Therefore, one way of effectively gauging what would your credit score will be is you report. Also, it is a good thing that you can actually obtain this report for free. Here are the additional reasons why you must get your free credit report

  • For you to ensure that a correct report is actually given to you
    Remember that the data in your report largely determines what credit score you will have. And it is your credit score which determines if you are credit worthy or not, affecting your ability to get new loans or pay for your debt. In this case, whenever you have positive credit reports, you will surely have fewer difficulties in securing a loan. However, when you have a bad report, most likely, you will not be able to secure loans, and worse, you may already be bankrupt or ridden with debt. In this case, it is best for you to ensure that you are having the right credit report, so that you can be scores fairly, according to what you really deserve. 
  • For you to avoid identity theft
    You will never know when identity thieves would strike. The fact about identity theft is that it is very difficult for you to know that your identity is already stolen. In this case, it is wise for you to check your report. This will actually help you see all the malicious transactions made in your credit card account, making you determine if your personal credit card account is already stolen by identity thieves or not. 
  • For you to be aware of your credit score
    It is very hard for you to just readily accept the credit scores that credit rating agencies give to consumers. In this case, when you are juts readily accepting your credit score, you will never know if it is still accurate or not. However, when you regularly check your credit report, surely, you will have an idea on the very likely credit score that you will get.

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