You should regularly review your credit reports and scores so that you know what to expect
when shopping for the best deals on new loans and lines of credit. A good credit score can
save you money by helping you qualify for low-interest mortgages, car loans, and credit cards.
Lenders are more likely to offer lower interest rates to those with high credit scores, because
they signify a history of good credit behavior. Low interest rates mean you pay less in interest
each month on your credit cards, cars, home, and personal loans. These savings can mean you pay
hundreds or even thousands less to your creditors each year.
Having good credit saves you money even if you aren’t applying for a new loan. It can help
you get that great deal on an apartment, that high-paying job you interviewed for, and lower car
insurance and life insurance premiums. It can also keep you in the good graces of your existing
creditors, making it less likely that they’ll ratchet up your current interest rate.
The key to determining your eligibility for credit is assessing how you’ve handled past
credit obligations. Your credit report provides potential lenders, service providers, employers,
and other authorized parties with information about your credit history. A deep understanding of
your credit report can help you to use credit responsibly and be able to identify errors that may
impact your creditworthiness. Since creditors report your credit activity to the reporting agencies
frequently (generally monthly), it is important to review your credit reports and scores often.
Keep in mind that there are lots of free credit report tools out there, but none of them offers the
ability to track, update, and forecast your credit scores.
With Monitoring, you will be alerted to changes in your credit report. To view your changes you
may purchase your report and
for a one-time fee or upgrade your account to Plus for unlimited access to your credit report and