The Value of Your Credit Report- a Guide for Teens
Contributed by Lisa Marie
The Value of Your Credit Report- a Guide for Teens
You, meaning the children of teh baby boomers, are entering the work force with your multi-tasking and computer abilities, so it is important for you to have a little bit of information about your credit report.
Your credit report is your foundation to a happy and successful life, so learn about and keep on top of it!
As you progress through your college years and enter the full time work force, it's more important than ever to keep on top of your credit report. We've all heard our parents' speeches about credit cards: "Don't use them. You have to pay for it eventually. ANd they're bad." The truth of the matter is just this: You need credit. More importantly, you need good credit, so it's time you start learning about it now before it's too late.
There can be errors on your credit report, so check the annually.
It's important to get an annual credit report so you can keep up with what's going down on your report. Errors are quite common, especaialy if you have the same name as someone else in your family (ie. Jr., III, etc.). Besides the fact that you could have another family member's creditors on your report, you could have a complete stranger's creditors on your report. The credit bureaus get their info based usually on just your name and social security number. These are all keyed in by humans, and we all know that human's make mistakes.
How to get a copy of your credit report
If you're lucky enough to live in a state which offers one free credit report annually to it's residents (like Massachusetts), you're just that; lucky. For the rest of us, we either have to apply for credit and get denied, or pay for them. You can access one of those "Free credit report websites, but you will be needing a credit card.
