Check Your Free Credit Score: Help Save Money

By: Mike Clover

Checking your free credit score regularly will benefit you because your credit changes every 30 days. You are probably asking yourself what do you mean your credit changes every 30 days. Well the creditors you have obligations with re-report your credit status every 30 days usually to all 3 credit bureaus. If you had a credit card with a credit limit of $4000 and a balance of $2500 and you charged another $500 on your card your balance would change along with your credit score as well. Since creditors report any changes with your credit report every 30 days, you probably should check you credit report once every 3 months. It would probably not hurt to pull your credit report every other month. There is a lot that can happen to your report within a 30 day period. The point I am trying to make is if you are managing your credit properly, and want to be aware of your credit score, you need to check it often.

Anything can happen to your credit within a 30 day window. Let's assume one of your creditors accidentally reports a late payment on your credit report, and you actually were not late. Because of this mistake on your creditors behalf, they just dropped your credit score 100 to 150 points. You decide to go apply for a new car, because you need one and they are advertising low interest rate loans. To your surprise because of this particular creditor's mistake, you get denied because your credit score is too low. Believe it or not this is a very common issue out there. 1 in 4 credit reports have mistakes that cause low credit risk people to get denied. I hope I have convinced you to stay on top of your credit.

Oh, pulling your consumer credit report does not affect your credit score at all. It is considered a soft pull. With all that I just discussed, I would assume you are not independently wealthy. You probably need to save as much money as possible so you can retire someday. With your credit being in good standing you will save on interest rate charges, therefore being able to save more. Stay on top of your credit and start saving today. There has never been more of a sense of urgency to make sure you are getting the grade in this digital age. When I say getting the grade, I am talking about your creditworthiness. With everyone wanting to know your score, you might want to get your free credit score today.

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