How to Increase Your Credit Awareness

This is an article I wrote and published on ezinearticles.com. I thought I would post it here because it has some good content on credit.

Consumers need to become more credit aware now that lending institutions have stricter approval criteria. One way to do this is to check your credit report and score periodically. There are many resources available to check your credit report and score. Some are free and some are "free". Some "free" sites give you a free trial, but if you do not cancel the service, you will be charged a monthly fee. I am going to tell you about several free sources to help you become knowledgeable about your credit.

Your first stop should be to website called www.annualcreditreport.com. This website was created by the three credit bureaus - Equifax, TransUnion, and Experian - as a way for consumers to request one free credit report per year. For an additional fee, you may purchase add-ons like credit score and credit analysis. I recommend using the following tactic. There are three credit bureaus. The information found in each report is often times very similar. Instead of requesting all three at the same time, you should request one every 4 months. That way you are getting a look at your credit report more regularly then once a year.

Your next stop should be to www.creditkarma.com. This website allows consumers to get their Experian credit score for free. You can recheck your score as often as you like. I use this website myself and find it user friendly and accurate. It also rates different areas on your report so you can see how you stack up against other consumers. The way this website makes money is from banks and credit card companies that pay them to display products that they feel you would purchase.

For more in depth information on credit and to learn more about actively monitoring your credit, I recommend equifax.com This website offers a credit monitoring service for a small monthly fee. This will alert you to changes on your credit report, new accounts, and a host of activities. Also, it includes real-time credit scores. There are also forums where you can post questions about credit and find help in correcting credit discrepancies, finding loans, and much more.

By getting more information about your credit, you can increase your awareness and become a credit savvy consumer. As you monitor your credit and improve it over time, you will notice many benefits including lower interest rates on loans, better credit card offers, and much more.

Christopher Byrd has years of banking and credit union experience. He has a degree in Marketing specializing in Sales Management from the University of West Florida. He is a recognized credit expert and assists consumers in building better financial habits and improving their credit score.

Article Source: http://EzineArticles.com/6413680