Have you been holding out on checking your credit score? I am going to share ten reasons to check your credit score today, and stop procrastinating. We all strive for that good credit score, but did you know neglecting to check isn’t right to do? Let me share all the reasons why checking your score regularly is a must.
Having a healthy credit score can be a factor of getting approved for loans for vehicles, renting or buying a home, and the list goes on. The first step is learning what your credit score is, and then working to make it stronger.
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Stop Procrastinating and Check Your Credit Score Today!
1.) It is FREE!
You can check your credit score for free today. If it is free then what is the harm of signing up and seeing what your number looks like, any inquiries or hard hits and start building up your credit score. Head here to see what your credit score is today!
2.) Identity Theft
One of the first indicators many finds is checking their credit score to see changes in their report for identity theft. You can see if a new credit card or loan has been opened that maybe you had no part in. Being a victim of identity theft is a long and laborious process, and the sooner you find out, the better. It can take months to clean up false charges.
It has been reported that on average someone who has indeed been a victim of identity theft, you could spend up to 500 hours repairing all the damage done to your credit.
3.) Denied Credit Card
If you applied for a loan or even a credit card and got denied, getting a copy of a free credit report is a good idea. If you are denied, you can request for them to send out a denial letter with directions on how to get your free report. You can then check up on your account to see maybe why you were denied and look over the account.
4.) Stay Accountable
By taking just a few minutes to log on, you can check your credit score and ensure you are maintaining a good score or making strides to fix your score and checking to see if your work is paying off. This might be paying off old bills, credit cards, any items that went to collections, etc.
5.) Applying for A Loan
When buying a home or new car or any other large loan, it is always good to check that credit score. Be aware of what your number is, so you will know if you are going to be close to getting approval for the loan, or need to work more to build credit before applying. You have to remember each time someone goes in to check your score it can drop your numbers for a hard inquiry. Being aware before you even try is best to save hits on your credit.
6.) Refinance Loans
Did you know with a good credit score you have the option to lower your interest rates? That is right if you qualify you can drop down lower rates which means fewer charges are sent your way. One of the most significant factors of interest rates is credit score, so if you get your credit score up, refinance is an option.
7.) Credit Card Interest Rates
The same thing goes for credit cards, get a better credit score, enjoy the lower interest rates and APR. That is something to think on if you are a person that does use credit cards on a regular basis. Just reach out to your current provider and ask to lower the interest rate or if they say no, shop around.
8.) Car Insurance Lower Pricing
When you have a better credit score, you have the opportunity for a lower price when it comes to your car insurance. No matter if you are a good driver with a clean record, if your credit score is low, you will generally pay a higher price for your insurance. Not all insurance offices do it, but some will.
9.) Deposits On Utilities
Did you know if you have a lower credit score you might pay higher deposits on utilities? If they see your lower score, they count that as not accountable and will stack on a higher rate for you to get your electric, or say water on.
If you had a medical bill go to a debt collector, sometimes after you pay it off it doesn’t drop off. You could have past debt hanging onto your credit score that is clear and paid that you need to reach out and ask to have it removed. That alone is a massive benefit as that will bump up your score.
Have I convinced you yet to head over and check your credit score? This is something you want to stay on top of so you can catch any issues with your credit that may arise.
Do you regularly check your credit score?