With more and more talk about identity theft, it is not surprising that consumers are beginning to sit up and take notice – adopting methods that will ultimately protect their identity and subsequently their future financial health. One of the ways that consumers are staying on top of their credit report is through the procurement of a free credit report.

Free credit reports are extended to consumers once within every twelve month period through the large credit bureaus – Experian, Equifax, and TransUnion. These credit bureaus house financial information about each consumer that ultimately defines their credit standing and, in turn, their ability to receive credit and qualify for loans. Based on their record of on time payments (or lack thereof), their credit balances, and any loan defaults that they may have experienced, consumers are assigned a credit score that helps lenders make a decision on loan applicants based on credit worthiness.

But what a credit report will also detail – to a discerning consumer – is unusual activity that may indicate identity theft. By staying on top of their credit report and noticing any changes early – including erroneous information – consumers are able to take control of their credit report by ensuring that it includes only accurate information. By noticing possible identity theft early, consumers are able to go straight to the authorities and nip activity in the bud, as well as work with the credit bureaus so that they are aware of the situation early and can proceed accordingly.

By taking the time to get free credit reports on a continual basis, consumers are putting themselves back in the driver’s seat in maintaining their financial health and good credit. And with constant vigilance – knowing what is on their credit report and subsequently what does not belong there – they are able to protect themselves from financial harm.

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