The importance of monitoring your credit report and score cannot be overstated. True, your credit score may not be some magical number that guarantees financial success. However, your credit score provides clues about your ability to manage your finances and gives lenders a bird’s-eye view of your creditworthiness.

Having access to your credit report and credit score can help you spot any suspicious activity and/or erroneous information that could be lowering your score. What’s more, you may be able to take quick action to improve your score before it affects any potential loan and/or job applications. So how do you get a copy of your credit report and score? Fortunately for us, there is a way to get your credit report and score for free.

Under the federal Fair Credit Reporting Act, you’re entitled to receive a free copy of your credit report annually from the three primary credit bureaus (Equifax, Experian, and TransUnion). If you wish, you can also obtain additional reports from any one of the credit bureaus throughout the year. The good news is that, as noted above, this service is free and accessible to everyone.

Additional services may allow you to access your credit score for free. Services such as Credit Karma, Credit Sesame, or WalletHub provide consumers with a free copy of their credit score. However, it is important to note that the credit score from these providers is not identical to the one lenders use when evaluating your credit-worthiness.

In addition to having access to your credit report and score, monitoring your accounts can offer additional peace of mind and may help you detect fraudulent activities. Knowing where you stand financially will allow you to make informed decisions and make smart financial decisions.

In conclusion, having access to your credit reports and score can help you detect suspicious activities and even alert you to fraudulent activities. Plus, by becoming familiar with what’s in your credit report, you can develop a better understanding of your financial standing and improve your credit score. Monitoring your credit report and score is an important step to ensure your financial security and health.