[1]Photograph Credit: Flickr (Dan Eriksson)
With an extra hour, I hope you can find a few minutes to order your next credit report.
By adding this reminder to my scheduled during the Planning for Success [2] series, I didn’t forget our third credit report update this year.
Thanks to the SC Department of Revenue’s security breech, our family is still receiving monthly updates from our year of free monitoring.
Though I get an e-mail listing any activity, I still request a copy of our credit reports to stay on schedule and look over all the activity on our accounts.
If you are following my recommended schedule [3] for requesting your credit reports or are just beginning, then check the date on your previous year’s credit report before requesting a new report.
Wait at least one full year from the processing of your last request for a free report to prevent incurring a fee. For example, my Equifax report printed on October 22, 2012, so I can request another this year for FREE anytime after October 23, 2013.
In using time wisely, I request our reports [4] every 4 (or 5) months. For this third credit report update, I requested Paul’s TransUnion report and my Equifax report. When the reports arrive, I will follow this plan:
1. Review for errors [5],
2. Challenge discrepancies [6],
3. Run a FREE TransUnion credit score [7] for Paul,
4. Replace last year’s reports with the new reports and credit score in the first file slot of Box 1 of our important documents [8], and
5. Put the file box away until February’s credit check.
The first time we ordered our credit reports, they were filled with errors from wrong information to incorrect credit limits. I spent months corresponding via mail and on-line forms getting the information corrected.
It took time. But in using time wisely then, I typically spend 5 minutes or less now reviewing our credit reports. The process is simple because I spent so much time getting it right the first time.
The lesson I learned from that experience was to fix errors as soon as possible. The longer you wait the more time and research it takes the company to fix it. Nipping inaccuracies early will save you frustrations later.
Keep using time wisely. Rest easy knowing your accounts are accurate by requesting your credit reports throughout the year. Finding an error early can save you money, energy, and time. Happy checking!
Question: Do you request your annual credit reports?