When It's Time to Check out That Credit Report (cont.)
Contributed by Roland Head
Keep on top of what the credit bureaus are saying on your credit report
Because credit reports are so important in their effects on such a wide area of your life, you ideally should be aware of what your's is at all times. You shouldn't wait until you're buying a home or car. Although these times would certainly be appropriate times to check out your credit report, anytime is actually a good time.
You might think your credit report is acceptable because you've always paid your bills on time, etc, etc, but you should get it in black and white.
One indication of a bad credit report would be the situation where a company or bank has turned you down for credit. Clearly, your credit report has problems. You should immediately go to the internet and download your credit report. There could be a lot on there you're not even aware of. A mistake might have been made or you could even be the victim of identity theft.
In any event, be pro-active. Treat your credit report like any other financial information that pertains to you. I myself was not really doing this until recently. When I tried to get credit for a mortgage I was quite surprised to be turned down. It turned out that my credit report wasn't substantial enough. It wasn't bad, just spare.
