It's easy to know, "What's in your wallet?" as the commercial asks. But what's much more important is what's in your credit report. Someone with just a few coins in their pocket could be living large in a mansion, while a "high-roller" with a wad of cash could be turned down for mortgages, auto loans, credit cards, apartments, and even jobs because of his bad credit report.
Your credit report contains the details of your credit history, indicating:
- Have you paid your bills on time?
- Have you paid back loans as agreed?
- How much of your credit cards are you paying off, and how big are your balances?
Incredibly, surveys show that millions of Americans have never checked their credit report. MoneyTips is offering a free tool, Credit Manager, so you can read your credit report right now. Credit Manager will also show you your credit score – a numerical rating of your credit – at no charge, without your having to provide a credit card number.
Why bother? Because you may discover that a mistake has been made that is costing you hundreds of dollars in interest fees. Your credit report may show that an old bill that you paid off is marked "unpaid", or that someone else's delinquent account was attributed to you. As a result, when you apply for a loan or credit card, you have to pay higher interest because companies consider you a bigger risk. Why should you pay for someone else's mistake?
In addition, more and more financial accounts are being hacked by criminals around the world. If your credit information has been compromised, a thief could open up a credit account in your name and rack up large bills before you realize it. Left unchecked, it could ruin your credit for years. The quicker you catch it, the faster you could start minimizing the damage. And Credit Manager will help you restore your good credit as well!
Even if your account is accurate, it's good to give yourself a financial check-up. By seeing your credit report and score for free, you could learn how to take action to improve your finances. Don't worry; MoneyTips will also help you achieve your financial goals. But the first step is knowing where you are today. Director of Public Education for the credit bureau Experian Rod Griffin explains, "Your credit report should be a tool that works for you; it shouldn't be a mysterious thing. The same is true for credit scores."
Visit Credit Manager by MoneyTips to check your credit score and read your credit report now. You'll learn how the rest of the world sees your financial situation. And since there's no charge, you won't even have to see, "What's in your wallet?"