Dmitriy Fomichenko, President, Sense Financial
@dfomichenko
First, you can avail one annual credit report from each of the three major credit bureaus free. Your credit report sums up your entire credit details, which makes it an important part of your financial life. Here are some reasons to check it on a regular basis:
- Identify any financial mistakes: Checking the credit report will allow you to identify any reporting mistake made by the bureaus. It is not uncommon to find discrepancies in these reports, which in turn could impact your ability to avail credit.
- Safety against identity theft: Keeping an eye on your credit report will help you avoid identity theft. You can track any fraudulent accounts, loans, or charges through your credit report.
- Planning to apply for credit: If you're applying for a loan, a closer look at your credit report will give you clues about the chances of approval.
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