By; Alicia M . Caldwell, AMC Literary Services
If you own a television, and let’s face it, we all do, then you’ve probably seen the advertisements where the young man or woman is asking why their friend is checking their credit. In case you’ve missed it, the commercial goes on to show the friend exactly why one would want to know their score. Maybe you take a restroom break during the commercials or break up a sibling smackdown and missed the good advice that’s provided in these commercials. Don’t you worry…Carod Properties to the rescue!
There’s not much to say about this subject, except know your credit score. Just as important knowing the score, is knowing what comprises it, so we can’t advise you enough…CHECK YOUR CREDIT REPORT! Oh, you’re gonna be stubborn, huh? Whether you are a renter or a real estate investor, or anything in between, “good credit” is a factor in so many aspects of adult life. It affects your buying power, ability to negotiate rates and prices, and even your ability to get some jobs. Your credit score is calculated by many factors by 3 established credit reporting agencies: TransUnion, Equifax, and Experian.
You may check your credit score, and just maybe you’re happy with the number you see. Even if you have what is deemed as “good credit” (the range is from bad to excellent, from 300 to 850), checking your credit report, annually/routinely, is advised to ensure that things are being added/removed to your credit report accurately. It is too late to find out that there is something you need to dispute after you are declined the loan for your dream home. Even more importantly now, with it being the one of the fastest growing crimes in America, checking your credit report regularly helps prevent or catch identity theft before too much damage is done to your credit and your name.
There are agencies and entities that can facilitate accessing your credit report. As we all know, there’s an app for that. There’s also a fee for that. Not always. However, did you know that Federal law allows you to get a free copy of your credit report every 12 months from each credit reporting agency, further allowing you to ensure that your credit report is correct and up to date. You can obtain your free, federally sanctioned credit reports, annually at www.AnnualCreditReport.com. On this site you just answer a few questions of verification, and you then have the ability to print and/or save your reports one at a time. FREE!
As each new year looms, there are things that are just a part of being an adult that we do as a routine. We robotically begin scheduling eye exams, physicals, and various other types of routine appointments for our cars, homes and ourselves. For the benefit of your financial health and well-being, accessing and reviewing your credit report annually, or even more regularly, is not only advised, consider it mandatory and just another part of adulting. You’ll be glad you did. As always, Carod Properties is here to help!
