Why keeping an eye on credit reports?
Why Should You Keep a Close Watch on Your Credit Report? Because your credit report is your financial reputation - and it could be in error. Your credit report is looked at by all the people who have the power to make decisions about what you can or cannot do in the financial arena. Those people judge you based solely on the contents of that report - without ever knowing you. Then they decide if you can buy a house or a car, if you can have a cell phone or a satellite TV, and even if they want to rent to you or hire you. It’s in your best interests to make sure the information they base their decisions on is accurate. Why wouldn’t it be accurate? Because to err is human, and the information your credit report contains was keyed in by a human. Transposing a number or hitting a wrong key could enter someone else’s credit information on your record, and that could be bad news for your credit score scale. In addition, your credit report will alert you to identity theft - and the sooner that is discovered and dealt with, the better.