Free Consumer Credit Information and Resources

Protecting your consumer credit score is one of the most important things you can do for your financial health.  As a financial services consultant, each day I work with families to build financial security. We develop tools and discuss strategies to execute manageable budgets, investment and savings plans.  During my initial interviews, I am always amazed by how few individuals know how a negative credit score impacts their overall financial health and purchasing power (see article, The Effects of Bad Credit).  Over the years, time and again, I have heard the same story. “How can I have bad credit?  I don't have any credit cards” or “I usually pay my bills on time.”  After some discussion, the reasons began to surface. “(Five, ten, fifteen) years ago I co-signed for my (mother, brother, sister, child, boyfriend, girlfriend, best friend…) Or, “I didn’t know that a past due phone or electric bill could affect my consumer credit score,” or “I never had an account with that company.”  

My best advice is to never co-sign a loan or contact for someone, no matter how dear they are to you, that you are not willing to monitor regularly and pay if they default. Second, monitoring your credit score and history on a regular basis is crucial. I can’t tell you how many of my clients were shocked that a relative had opened an account in their name without their knowledge, or that there is a mistake on their credit report that had negatively impacted their credit score for years.   

At a minimum, you should check your credit score once per year. Get your score free once per year from each of the three major credit reporting bureaus, Experian, Transunion and Equifax. Of course, many things can change in the course of a year.  Monitoring your credit score to assure protection from identify theft is key.  Although I am not an individual given to paranoia, about 2 years ago, I decided to be proactive about protecting my identity and credit score and subscribed to Triple Score Advantage, a consumer credit score monitoring service. Now as soon as my credit score changes in any of the three major credit bureaus, for any reason, I am informed, and in the interim, I can check for changes in my credit score and report at any time.  I recently purchased a new car and shopped around for the best rates.  I knew my credit score upfront and used it as bargaining power to negotiate the best interest rates and deals.  Each time I authorized a credit check, I received an email from Triple Score Advantage alerting me to activity in my credit file. The service is inexpensive and provides peace of mind that is invaluable -- worth every penny. To learn more about getting your free consumer credit score and identify theft protection, click here.

Thank you for visiting our web site. Our goal is to bring you the most up to date and useful consumer information available to help you make informed decisions about your financial health.  We hope you will visit us often.  If you have suggestions for information you would like to see on our website, please contact us.

To your financial health,

D. Lyn