With more and more people struggling to stay on top of their financials, making sure they have an up-to-date, accurate credit report and score is essential. There are several services available for consumers to purchase to monitor their credit score, but thankfully, consumers are now able to get a free credit report and score once a year.

The number one reason to get a free credit report and score once a year is to stay informed. A credit report gives you a snapshot of your current financial standing, including any negative information that has been reported about you. This gives you the ability to address any incorrect information and ensure that your financial records are accurate and up-to-date. Additionally, you can use this information to develop strategies for improving your financial standing.

Another benefit of getting a free credit report and score once a year is the ability to monitor any changes in your credit score over time. Knowing what activities are affecting your score is critical for anyone who wants to build a strong credit score. By staying on top of your credit report and score, you can take steps to ensure that any negative information does not bring your score down.

Finally, a free credit report and score once a year allows you to apply for loan products with confidence. By having a clear understanding of where your credit is, you can apply for financing with the assurance that you may qualify for the best rates available. It also gives lenders more confidence in your ability to pay back a loan and thus make them more likely to approve your application.

Overall, having a free credit report and score once a year is an invaluable tool for consumers. By getting a clear understanding of their credit standing, consumers can make informed decisions and have a better chance of success in both short and long-term financial planning goals.