Credit

Credit can mean many different things. There's your credit score, your credit report, your credit rating and your credit card. Check your credit report to make sure your credit is being reported accurately.

Credit

Do you know what's in your credit report? It's good to find out.

Get a Copy of Your Credit Report

It's free, so why not? That's right--a law was enacted recently that entitles you to one free copy of your credit report from each of the three credit reporting companies--TransUnion, Equifax and Experian--every year. With identity theft running rampant, it doesn't hurt to make sure nobody is messing with your credit.

Once you get a free copy of your credit report from each agency, go over it with a fine-tooth comb to make sure everything is in apple pie order. You want to make sure any debts that appear on the report are accurate, and anything that's paid in full is shown as well. If you find any inaccuracies, write to the credit reporting agency immediately. These inaccuracies may be having a negative effect on your credit score, which will impact you if you want to buy a house, get a car, etc. There are even some companies that won't hire you if your credit is bad. Did you know that credit could have such an impact on your life?

Is Debt Effecting Your Credit Score?

If you have a lot of debt (especially credit card debt) you might seek out credit counseling. And the first thing they'll tell you to do is what we just did--get a copy of your credit report. But they can also get you enrolled in a good debt management program to get you out of debt in five years or so, and they'll teach you skills like budgeting, how to save, how to spend wisely and how to use your credit wisely. These skills will serve you well in the future. Especially if you want to stay out of debt.

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