Wednesday, April 29, 2009

Monitoring Credit

Managing finance is an art and that too not a very tough one. Although it may take up some time but is definitely not a task only a rocket scientist can perform. There is no ambiguity about the fact that managing finances has a lot to do with managing credit.

Managing credit involves staying au fait on the credit activities and making sure that no inaccuracies seep into the credit report. It is therefore necessary that the credit report is reviewed at regular intervals of time. Not only does that help leading a good financial life but it also helps preventing identity thefts by taking immediate actions in case of credit fraud before too much damage is done.

There are numerous reasons why the credit report should be reviewed on a regular basis. Credit reports can be obtained from the three major credit reporting bureaus. However it is not necessary that all the three credit reports be alike. Mostly lenders report to just one credit bureau and the information is not exchanged amongst these bureaus. Once in a year all the bureaus are required to provide the consumers with a free credit report but no free credit scores are provided to the consumers.

Monitoring and reviewing credit reports more than once a year is one practice that is encourage by experts. Knowing credit score helps understanding where one stands so that he can take steps to improve his credit worthiness accordingly. A credit score decides if a person is eligible for a higher credit limit and further loans. Having a good credit score has perdurable advantages.

It becomes further propitious to get the credit reports from all three bureaus along with a credit score. In order to help improve consumers’ credit life and make amends in finances, provides a 3 in 1 credit report (which compiles reports from all three credit bureaus) along with the credit score. This helps monitoring credit for three months on a daily basis. The site also provides a good insight on all aspects of credit monitoring and credit protection.

1 comment:

Credit Monitoring said...

great post! good idea in monitoring credit specially on business. Thanks for tips and idea share. we will come back often.

Once again, thank you!

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