Check your credit report Check your credit report

Check your credit report

Keep an eye on all your account balances, including your credit report, which will be very helpful.

A credit report is a statement that has information about your credit activity and current credit situation such as loan paying history and the status of your credit accounts.

When is the last time you checked your credit report? Never make the mistake of just assuming you have good credit because you make your payments on time or you don’t have a bunch of debt. Identify theft is a huge problem and there’s always a possibility that someone used your information to take out a loan, open a credit card or create other debts.

If you have overall control over your finances, your credit report should be included in the accounts. Maybe this report is the one you least like to check, because it can be a headache due to debts or interest rates, but it's absolutely necessary.

A common misconception is that checking your credit hurts your credit score. You can check your credit score as often as you’d like, but it’s usually not necessary. Checking your credit report annually should be your minimum. Every six months or so should be good.

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