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Improve Your Credit Health in 2009. |
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Its a new year. Time for new beginnings and resolutions. Like many Americans you may resolve to improve their physical well being this year, but make sure you also focus on your fiscal health.
Often people don't see the link between their credit score and their fiscal well being, but the correlation is unmistakable. Your credit standing has a direct impact on the interest rates you pay on everything from home mortgages to credit cards. Your credit standing can also affect the rates you pay on auto and home insurance, whether or not you have to pay a deposit when connecting utilities to a home, and even how great the service is you receive from your existing creditors.
Fortunately, gaining access to your credit report and credit score is much simpler now than in recent years. Disputing inaccuracies is also a much simpler task.
Get Your Credit Report. Once a year you can get a copy of your credit report for free, directly from the three major credit bureaus. This won't show you a copy of your credit score, but will let you see, in detail, what creditors are reporting about you and how you pay your bills. Remember this is only available once a year from each of the three major bureaus (Equifax, Experian, Transunion), so it might be to your advantage to check a different bureau ever three months.
Get Your Score and Credit Monitoring. If you don't mind paying a small fee, you can not only see your credit report but your credit scores (FICO scores) from one or all three of the major credit bureaus. Many services also offer credit monitoring services that will alert you when there are changes in your report (status changes, new inquiries, new accounts, etc).
Protect Your Identity. If you want to take the protection of your fiscal health a step further in 2008, you may want to sign up for Identity Theft Protection. Companies like LifeLock will help protect you from identity theft, securing your name and your credit standing. LifeLock even guarantees your protection, offering insurance in case something goes wrong while you are subscribed to their service.
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