Identity theft is a term that many of us throw around without really understanding what it means – until of course it happens to you and you are suddenly thrust into a world where you can write a book on the nuances of identity theft. It used to be that in order for someone to steal your information they would typically have to physically remove it from your body. But today, with the computer at our disposal, it has become much easier for thieves to take our personal information and virtually run with it.

The worst part about identity theft is that it often takes months to reveal itself. There are many consumers who go about their day, having little idea of what is happening on their credit card statements, in their bank account, and on their credit report. With the myriad things that we are all responsible for handling on a daily basis it’s no wonder that things inevitably fall through the cracks.

But with one small action taken on a periodic basis, consumers can protect their interests and ensure that all is as it should be with their credit report. A free credit report is given to consumers who request it – reports pulled from all three credit bureaus – Experian, Equifax, and Trans Union. These reports detail a consumer’s credit history including a track record of payments, the amount of credit they have had in the past and currently have now, and any loan defaults that they may have experienced.

Using the information on a credit report, potential lenders are able to determine the creditworthiness of their applicants. But a credit report can also alert consumers to any wrongdoing being done to their credit score through identity theft. By procuring a periodic free credit report, consumers are taking control of their financial situation and protecting their private information.

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While the weather may have not gotten the memo, spring has officially arrived and with it the trend towards spring cleaning that many of us have in our homes. During this time of year – when windows can be flung open, curtains removed for cleaning, and outdoor furniture assembled once again – we dig deeply into cleaning our homes to make them fresh and organized for the months ahead. In fact, spring cleaning has become something of a tradition; a way to shake off the dreary months of winter and shed our seasonal skin for the warmer months ahead.

Part of what many people do during this time is to turn a discerning eye toward their finances; giving them a spring cleaning of their own. It’s no coincidence that this time of year coincides with tax time; and many consumers use this opportunity to reorganize their financial records and really get a handle on their financial health. To begin the process, many people find that by getting a free credit report, they are able to give themselves the first stepping stone in the process of self-examination.

A credit report is every consumer’s credit history – held by three large credit bureaus whose job it is to collect such information. Every time that we go to apply for credit – be it a mortgage, a car loan, or a credit card – the lender checks our credit report from one or several of the credit bureaus. The information that they gather through this credit report tells them of our creditworthiness and our likelihood that we will make our payments on time. Lenders then either qualify us for credit or decline our request.

Many consumers who have learned that their credit report is less than stellar simply vow to make better on time payments – which is certainly helpful. But without their credit report in hand they cannot know for sure what information is detailed on their report. By getting a free credit report consumers are able to examine exactly what is on that report and take the steps to improve their score.

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