When you are applying for a new credit card, or an extension of a credit or loan, your lender will review your credit report before granting you anything. So it is probably best to check up on your credit report as well. This way you can correct any inaccuracies and fix your credit report immediately. Ideally, you should check up on your report monthly, and even weekly, especially if you have made a large credit purchase.
Consistently checking up your report will help you to eliminate errors and mistakes easily. It is important that you are up to the task and fix your credit report when problems arise because otherwise, you may have trouble applying for a credit card or loan.
The way to go about keeping an eye on your report is to first get a summary of all your credit accounts and the total debt youve incurred. This includes the available limits and existing balances. Any inaccuracies you can then quickly rectify.
More importantly, by constantly reminding yourself of your credit report, you can budget and plan for the future. If you want to buy a brand new car or house, you need to make sure youll be easily granted the loan required for such expensive...