In the last post we talked about free credit reports; how these reports – which can be ordered online from each of the three credit bureaus once within every twelve month period – give us access to what potential lenders, landlords, and even employers are reading about us. Free credit reports can alert us to possible credit damage because of an unpaid bill that we didn’t know existed, the fluctuation of our credit score, and even the possibility of identity theft. By always knowing what our credit report is reporting we are easily alerted by changes to this information and can therefore have the best chance of nipping potential problems in the bud.

The best part is that free credit reports are viable financial tools no matter what stage of life we are in or what financial circumstances we are currently facing. The ways in which free credit reports can be used include:

* Teenaged years. For this group that is just starting out in the world the temptation exists to overextend themselves in terms of buying what they ultimately cannot afford. Unfortunately this is also the time when so many of their age are offered credit cards when they get to college or start their first job. Free credit reports can keep young cardholders honest by allowing them to witness firsthand how their financial decisions can impact their credit score.

* Twenties & Thirties. This is a time of big changes for most people as they start their careers, travel, buy homes, possibly get married, and have children. These life changes bring about large financial fluctuations as well. Obtaining free credit reports will help consumers make big financial decisions.

* Forties & Fifties. With careers solidly in place, finances tend to become more comfortable as well. But this may also be the time during which college tuition for children is paid. Big expenditures require careful planning. Make sure your credit report is the best it can be by monitoring it with free credit reports.

Popularity: 29% [?]

Share This