Here is a gift that you probably didn’t get this past holiday season. Every year, you have access to one free credit report - something that might sound rather boring, but actually quite worth while. This report will give you a glimpse at what all those student loan and credit card companies consider when you submit an application. Knowing how many accounts you have and what their standing is, will give you a better idea of your likelihood of getting the money (credit or loan) that you need. I recommend going to annualcreditreport.com and running your report from there. They act as a gateway that will actually provide you access to the three major consumer credit reporting companies (Equifax, Experian & TransUnion) who will provide their own distinct report.
In addition to the report, which lists all of your credit related accounts and their information, you will also have an opportunity to find out your credit score. The report is free, but you are usually required to sign up for a trial credit reporting service to get access to your credit score. Most programs are risk-free for 30 days, so sign up, check your score and cancel right away. To learn more about your credit score and its importance, check out our “Understanding Your Credit Score Article” article we wrote last year.
