The daily life of the modern family is so busy that it’s hard to keep track of all that has to be done minute to minute. And so we make lists, create calendars, and develop ways to remind ourselves to do those important things that must be done; one of the more popular ways to accomplish this is through association. For instance, we have all been told throughout our lives to check the batteries in our smoke and fire alarms when we turn the clock twice a year for daylight savings. Another association that may be appropriate to make – in order for us to remember that which is very important – is to request a free credit report when we do our taxes every spring.

We know that we have to file our taxes before every April 15th. But what many of us don’t know – or don’t understand completely – is that getting a free credit report every year is very important and should be done as steadfastly as filing our taxes.

All consumers that have received credit lines at any point in their lives will have a credit report – information that is compiled on them through the three credit bureaus – Experian, Equifax, and TransUnion. This information includes history of payments, credit currently being held, and any loan defaults experienced, among other things. This information is then used to determine a credit score; a score that is used by lenders to determine the creditworthiness of loan applicants

What is most important in terms of a credit report is that the information included on it is appropriate. Savvy consumers check their credit report in order to ensure that there is no inaccurate information included on the report – inaccuracies that can affect an overall credit score and the ability of the consumer to receive a loan.

All consumers are allowed one free credit report within every twelve month period. By making that a part of your yearly administrative duties – like filing taxes – consumers can be sure to stay on top of their financial information.

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