Your Free Credit Score: Top 5 Reasons to Keep Track of It
Your Free Credit Score: Top 5 Reasons to Keep Track of It
Credit is a topic that many people feel uncomfortable talking about, but it is also a crucial part of your daily finances. There are many ways to build a strong credit score, but even more ways to screw it up if you are not careful!
1. You Will Be Able To Keep Track Of Inaccurate Reporting And Identity Theft
Keeping track of everything reported on your credit will help you catch any problems that arise quickly as possible, so you can catch and fix them before they become unmanageable and detrimental to your credit score.
2. You Will Be Able To Better Manage And Maintain Your Credit
It does not matter if you are fixing your credit or maintaining your credit. Keeping track of your free credit score and credit history is imperative when keeping finances healthy. You will never truly know if your identity is safe and your credit report is mistake-free unless you keep track of it.
3. It Helps You Save For Future Expenses
When you are working hard to budget, save, and cut down on expenses for purchases such as a home or car, it is crucial to monitor your credit to ensure your score is where you want it and that there is nothing there that shouldn’t be there.
4. You Will Be Able To Monitor How Much “Good Debt” VS. “Bad Debt” You Have
Most of the time, when you think of debt, it would be medical debt, credit card debt, etc., but there is debt that is “good” as well. It is essential to keep track of how much you are using on your lines of credit and how many loans you have out, including a mortgage if you have one.
5. You Can Use It As A Guide To Fix Your Credit
As you go through your bills, you can use it as a source to verify what you owe, any incorrect reporting on your credit report if you have been the victim of identity theft, and how much you owe on each account.
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