With every major and sometimes minor transaction hinging on your credit report, the days of not really worrying about what’s on it are over! Your credit can potentially tell an employer if you’re responsible and worth hiring or not. And while some employers don’t place the same amount of importance on credit reports, they still check it. Why take the chance of having a mistake on it? It’s smart to review your free credit report every 4 months (free from each of the agencies). That way, you can check throughout the year and spot problems.

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Article date:07-Jul-2011

Equifax, TransUnion and Experian are the 3 major credit reporting agencies and checking your credit report at least 3X a year is what’s recommended. That way, if there are mistakes, you don’t have to wait to hear it from a potential creditor or an entire year to find out about it. You can also call and request a free credit report from the federally authorized website www.annualcreditreport.com, the toll free number 877-322-8228. De De Jones of Innovative Financial says a credit score below 600 is a bad credit score. She says a good credit score is 720 or above. She also says even though you may lose 5 points for pulling your free credit report every 4 months that ding goes away in a short period of time. Now, if you pay your bills late, you could lose 20 to 30 points on your credit score. However, if you charge your credit cards to the max, your credit score can be dropped by 70-80 points.

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