One of the biggest parts of maintaining a good credit report is to check your credit report regularly or at least once per year and in a certain situation. It may be a good idea as it helps you track the movement of your credit, same as doing a financial analysis.
One of the purposes of checking your credit report is for you to know your credit score. Your credit score is an important aspect whenever you apply for credit. Creditors or lenders use your credit score to know your creditworthiness and also to determine if you are qualified to apply for credit.
It is not really necessary to check your credit report on a daily or weekly basis. However, it still important to check your credit report.
Here are the reasons why you should check your credit report.
Below are the common misconceptions about credit reports.