Review Your Credit Report

Maintaining a solid credit history is an important part of managing your finances. A good credit record can make future borrowing easier and help you qualify for lower rates. Three large credit reporting companies compile credit reports on millions of individuals and make those reports available to businesses. Making sure the information in those reports is correct is important.

A recently enacted program enables individuals to receive a credit report once a year for free. You can take advantage of this program at the website - www.annualcreditreport.com.

In addition, you can request copies of your credit report by contacting the companies.

Do not be surprised if the reports are somewhat different. Each company gets information from many sources. If you find the information in your file is inaccurate or unfair, you can take steps to correct it or at least get your side of the story attached to your file. If a creditor has made an inaccurate complaint, you can write to the creditor and insist the record be corrected. You should also write to the credit bureau and request their records be corrected.

Having an inaccurate credit report can cause problems at the worst possible times. Review your credit report annually and make sure it is accurate. A solid credit record and an accurate credit report are valuable assets. As a member of MAFCU, you also have access to a free credit report review through Balance: A Financial Fitness Program. Trained financial counselors are available by phone at no cost to you, 888-456-2227 Monday through Thursday from 8am to 11pm, Friday from 8am to 8pm and Saturdays from 11am to 8pm.