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When should I review my credit report?

You should check your credit reports at least once a year to make sure there are no errors that could keep you from getting credit or best available terms on a loan.

Be sure the information in the report is accurate and up-to-date.

You should also check your report:

  • Before making a major purchase that may involve a loan, such as a house or a car.
  • Before applying for a new job. Many companies look at your credit history when hiring employees.
  • To guard against identity theft. Identity theft occurs when someone uses your personal or financial information to commit fraud.
    Example: An identity thief may use your information to open a new credit card account in your name. When they don’t pay the bills, the delinquent account is reported on your credit report, damaging your ability to get credit in the future and subjecting you to calls from bill collectors.

Besides your credit report, there may also be reports about you made by specialty reporting companies. Specialty consumer reporting agencies collect and share information about you relating to your:

  • Medical records or payments
  • Residential or tenant history
  • Check writing history
  • Employment history
  • Insurance claims

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