Kitchens by Riland

It defies reason that with man’s love for freebies, many people still feel that nervous flutter in their tummies, any time they are due to collect their free credit reports from the credit bureaus or from the government’s website. This is because as much as we like spending, we do not like to be reminded of how extravagant we have been. However, you should by all means get your free credit report annually because:

1. Your yearly credit report is free of charge and you are entitled to it by the law. No rogue agent should try to make you pay a fee for it. Report such immediately.

2. The credit report shows what areas of your credit life you need to rectify such that your credit rating may be as healthy as possible. It shows the number of payments you have missed out on, and how many late payments you have made in that one fiscal year.

3. The annual credit report shows your score rating. This is important because it brings you to your senses, improves on your score so that lenders and financiers can consider you credit worthy and gives you big loans at very low interest rates. Even the healthiest score still has room for improvement.

4. The report also shows any irrelevancies in your credit history. Such could be caused by an error; and therefore would need you to iron them out with your Credit Card Company or credit bureaus. Such could be like missed payments that are mistaken.

5. If you are a victim of credit card fraud, it will show very clearly on the report. If you come across any credit borrowings that you are not aware of, confirm with your personal file; and if it is not there, then you have been taken in, contact your credit card company immediately and brief them. They will tell you what to do from there and how you can avoid shouldering such liability.

Before you get your free credit report from the credit bureaus, you may be required to give personal details like your name, social security number, date of birth and your address just to confirm that you are whom you claim to be. Should you be asked to give your credit card number, don’t do it. Such may happen when you are filling in electronic files on the internet. It happens; you could be in for an internet scam.