You have the right to check your credit report once each year, for free. And actually, there are three major credit reporting agencies, so you get three credit reports for free each year.
But here’s a great idea: Spread your credit reports out throughout the year, so that you get better coverage, and a better understanding of your total financial picture. Here’s how I do it: I get one of my credit reports in January, another in May, and the third in September. Then the next January, I repeat! I happen to do them in this order: TransUnion, Experian, Equifax, but any order would do.
It’s a good thing to monitor your credit at least once a year, but a lot can happen over the course of a year. Say I checked my credit reports all at once, and the next week, my identity is stolen by someone who uses my social security number to open a ton of accounts. I might not know about it until a full year later, when I checked my reports again. But if I pull one report every four months, I have a greater chance of catching an error (or a thief) in good time.
So, if you don’t pull your credit reports on a rotating schedule, consider starting. If you already do, this is your reminder to pull your next credit report now! (Assuming you pulled the last one in May, like I did.)
And remember, you should always get your free credit reports from http://www.annualcreditreport.com, which is the site set up by the Federal Trade Commission. Other sites claiming to give you your “free” credit report might have singing pirates, but they’ll also try to charge you a monthly fee.
7 responses to “It’s Time! Check Your Credit Report” 
Checking our credit report is vital when it comes to preparing for our financial future. Online resources make it easier than ever for us to review our report, and I agree that checking it is free.
Just a quick comment – I check my credit reports regularly, but I only do so once every six months. That way, I always have the third one available if something comes up (credit cards get stolen, etc.) that threatens my identity/credit.
Kate, that’s a good way to do it, as well. If there’s possible fraud on your accounts, you can actually get your reports for free from the three bureaus: http://public.findlaw.com/consumer/if-identity-is-stolen.html So it wouldn’t actually be a problem of having one available if you had an issue, since all three are available for free when you have a reason to suspect fraud.
Still, if it’s a system that works for you, stick with it! Checking it twice a year is lightyears better than not checking it at all
Thanks Stephanie….. I didn’t know that we can have free credit reports every year and that to 3 each year. Really nice information you shared, loads of gratitude.
Having your credit report is a very important thing especially if you are seeking to scoring credit points. Once you fail to check on your credit, there are multiple things that could happen, and not at the best interest of your financial options.
good reminder, just checked mine and its all good!
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