BBB offers advice during National Credit Education Month
When was the last time you checked your credit report? An annual review of your credit report is important to verify all outstanding debts and helpful in maintaining a strong defense against identity theft.
In recognition of National Credit Education Month, Better Business Bureau serving Central, Coastal, Southwest Texas and the Permian Basin encourages you to be in control of your finances, and a big part of that is checking your credit report regularly.
Your credit report has information about your finances, bill payments and bankruptcy history. Employers, insurers and other businesses use your credit report to evaluate your applications for a credit card, loan, insurance or renting. In Texas, employers have the right to do credit checks using government-maintained databases; however, the Fair Credit Reporting Act (FCRA) requires that employers give written notice that a credit check will be done.
The FCRA requires each of the nationwide consumer reporting companies—Equifax, Experian and TransUnion—to provide you with a free copy of your credit report, at your request, once every 12 months. To pull your free and government-authorized credit report, visit AnnualCreditReport.com.
The importance of pulling your credit report is to ensure the information being reported is accurate, complete and up-to-date. According to the Federal Trade Commission, having a copy of your credit report helps guard against identity theft. When looking at your credit report, look for these red flags of identity theft:
When pulling your annual credit report, BBB offers the following advice: