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Why check your credit report? To stay on top of your credit,
it is essential to be aware of the contents of your credit report.
Why? Because checking your report is the most convenient way
to review your complete credit history, and make well-informed
decisions on all your past, present and future accounts. Also,
it's a good idea to monitor your report for new derogatory information
and unauthorized accounts that might affect your credit.
Studies have shown that many credit files contain inaccuracies,
which could influence the approval process when you apply for
loans, insurance, or even a job. Often the result of simple
human error, they can be caused by anything from a clerical
error to a computer glitch in which your file is mixed with
that of someone with a similar name. And that's not the only
reason to check your report. In the past few years, identity
fraud has risen dramatically. In this form of credit fraud,
a thief takes over or opens accounts in your name, running up
large balances in goods or cash advances. If you don't check
your credit report, it could be months before you even hear
about such a situation.
Fortunately, new accounts opened by a thief using your identity
will appear on your credit report, alerting you to the fact
that identity fraud has taken place. That's why it's essential
that you check your credit file--and monitor your credit regularly--with
resources such as the Credit
Check Monitoring Service , which provides monthly online
updates on new derogatory information that is added to your
report, plus several indicators of possible fraud. And if you
act right now, you can take advantage of a FREE 30-day trial
of the Credit
Check Monitoring Service, along with a FREE
Credit Report delivered online, at no obligation!
(c) 2000 iPlace.com. This article is
the copyright of iPlace.com and is reprinted with their permission.
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