In the last post I talked about my great excitement when I finally got my first credit card. I felt like I was finally the independent adult that I wanted to be and I reveled in the freedom that the card seemed to bring me. Of course, I was way over my head as are most people of my age when we first have that credit card at our disposal. I spent freely – too freely – and when the payments came due and I realized that I was unable even to afford the minimum payment the panic set in quickly. I was able to finally get caught up on my payments – not that I was getting anywhere quickly in actually paying off the card – but more than that I was completely unaware of the fact that my late payments were being recorded and were affecting my credit report.

My first real understanding of my credit report came from a financial planner that I met with soon after I started my first job. I wanted to be financially responsible and start a savings and investment plan. But he also asked me about my credit report. I didn’t know what my credit score was or even what was on my credit report. It was embarrassing to admit. But the truth was that I was an adult without even a limited understanding of my credit. So I ordered my first free credit report. I came to learn that I was entitled to one free credit report from each of the three credit bureaus and it was up to me to request them – which was easy enough to do online.

Now that I’m in the habit of ordering free credit reports I can’t believe I went all that time without knowing my credit score or the state of my credit report. Now I realize that the day I got my credit card was not the day I came an adult – but I’m making serious strides towards adulthood now.

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