Reading Your Credit Reports

Obtaining your credit reports from all three credit agencies is one of the most productive tasks you can do in order to protect your identity. Credit reports can be obtained online through each agency, or a credit protection website. Getting a copy of your credit report typically costs less than twenty dollars, and it will provide you with the most up to date and accurate information.

A credit report will show your name and address along with previous addresses and your current employer. The credit report will also display all of your current and past credit accounts. These accounts will include any personal loans, mortgage loans, automobile loans, student loans, and credit cards that you may have. The balance of each will be displayed, along with your payment history. It is very important to read over all of your credit accounts, to make sure they are all up to date and have been paid.

The credit report will also give a list of all of your credit inquiries within the last two years. An inquiry will be placed on your credit any time you apply for a loan, credit card, or anytime a company pulls a credit report on you. Your credit report will also display your credit score, and where it falls between poor, fair, or excellent credit. Your credit is updated each month through all of the different companies within your credit, and should be read every three months to at least one time annually.