credit checks

Credit Checks

The information on your credit report can be used to determine whether or not you are able to buy a new car, rent an apartment, get a loan, or qualify for other credit. By monitoring your personal credit report, you'll stay informed about your current credit status. You'll know which businesses and credit granters have requested to view your credit report, which new accounts have been activated in your name, and whether or not derogatory information has been added.

Regular credit checks also allow you to be alerted to information that may have negative, long-term effects on your credit history-such as excessive inquires and possible fraud.

By checking your credit report, you can discover possible inaccuracies in your credit history. Correcting inaccuracies ensures that your credit report is current and correct, which in turn, helps speed the processing of your credit requests.

Under the law, both the credit reporting agency and the organization that provided the information to the credit reporting agency, such as a bank or credit card company, have responsibilities for correcting inaccurate or incomplete information in your report. To protect all your rights under the law, contact both the credit reporting bureau and the information provider if you have a dispute. Make a habit of regular credit checks - they'll help you solve the problem before it gets out of reach.