There are many reasons to check your credit score online regularly. On top of that, you should monitor your credit reports and identity just in case you are a victim of identity theft or any of your credit cards or bank accounts are hacked.
Having something go wrong with your credit reports or finances doesn’t necessarily mean that there is anything suspicious going on. It could be due to an error from one of your lenders. Keeping track of all of your accounts and how they are reported every month is possible if you sign up for a service that will allow you to check your credit score and report often. If you see any errors, understand that you have the right to dispute them.
What constitutes a “good credit score”? Typically, an “excellent” FICO score is anything over 750 or 780, depending on the bureau. Anything from the late 600s to mid-700s is considered “good.” The late 500s to mid-600s is usually considered “Fair,” and anything below the late 500s is “poor.”
One problem with credit scores is that it’s a lot easier to lose points than to recover them and increase the score. The sooner you realize that there is an issue and that your score is decreasing, the faster you’ll be on the steps to recovery. You won’t get the score back up overnight. Still, you can get the negotiation or removal process started very quickly – especially if you can make disputes online.
Check Your Credit Score Online With Different Bureaus
Lenders don’t all report to the credit bureaus at the same time. Each is on its schedule. Not all of them report to the same bureau(s) either. For this reason, your score could be different for each report. It’s not uncommon for the score on just one report to fluctuate several times a year if not more than once a month.
Consider your credit score to estimate your overall credit and financial health and think about how it will affect you in the short and long terms. Without good credit, you’ll be turned down for loans, other credit cards, mortgages, and in some instances, even an apartment. Suppose you don’t check your credit score online regularly, and you become a victim of identity theft. In that case, your life will become very stressful. Who knows what somebody else will do with your name, address, and social security number?
It’s easy to keep an eye on your credit report and check your credit score online often. However, you can also monitor all of your accounts, personal details, ID, etc., with a service like Experian IdentityWorks Premium. It allows you access to all three of your reports and even includes a 30-day free trial.