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Credit Report

A credit report provides prospective creditors (and in some cases employers and insurers too) with a detailed picture of your credit history in much the same way that a resume displays your work experience to a prospective employer.

The credit report may contain inaccurate information about your credit history. Reviewing your credit report on a frequent basis can help you track down any malicious information in your report.

Here are the top four reasons why you should make a practice of regularly reviewing your credit report:

• Inaccuracies & mixed credit files - Many inaccuracies on a credit report can be the result of simple human error, and are therefore are not difficult to dispute. Whether the inaccuracies relate to payments not credited, late payments, or data mixed in from the credit file of someone else with a name similar to yours, you will want to contact the credit bureau to dispute inaccurate information promptly.
  


• Tracking payments - One of the most important elements of credit is a demonstrated history of on-time payments. Once you send the check though, anything can happen - a delay in the payment being received can kick you over to a 30-day delinquency. If you call your creditor and explain the situation, they might adjust the information.
  


• Identity theft - This issue alone is reason to view your credit report immediately. Identity theft is an insidious crime, involving a thief who assumes your name to open new accounts, divert your card statements to another address, and run up all sorts of bad debt without you ever knowing about it until collectors come calling. The best way to catch a thief who is using your name is by getting a copy of your credit report, which will list any accounts that you know you haven't opened.
  


• Credit fraud and unauthorized charges - Credit fraud involves the theft of your credit card or account number to make unauthorized charges to your account. Though consumers are protected financially from this abuse, other creditors may take note of all this activity and decide to raise your interest rates or refuse to grant you a loan.

With the Internet, you can now apply for credit reports from the comfort of your home. You can apply for a single bureau report or one merged credit report. Applying online is a safe and secure method and gives you fast and accurate results. Credit report & score information is provided free by Spend on Life.