Okay so 2009 is dead and gone. That is a good thing for some, and not so great for others. Some want to start over with a new year and leave everything in 2009 behind and in the past. However, for others, they are bringing mistakes from 2009 with them into the New Year… on their credit reports. So what should you do to make sure that your credit is safe and fault free? Pull it! And here is why…
1. Identity theft
Believe it or not, there are some pretty clever criminals out there. There are some people who are sly enough to steal your account numbers, credit cards, socials, and other factors that are used as different avenues solely to use your name for their benefit financially, which, in turn, will leave you in quite a bind. You’re going to want to pull your credit to see if anyone has succeeded in stealing your identity, so that you can take care of the situation as soon as possible.
2. Source of information
Your source of information on your credit reports is all of your past and present information. When you apply for credit cards, loans, or pull your credit, you have to fill out your address, social, birth date, and other information about your present self. This information gets reported to your credit reports, and a lot of the time (and I mean A LOT) it is reported incorrectly. You need to check this information on your reports to see that it is accurate, because most likely there is a mistake.
3. Errors on accounts
Mistakes happen. It’s as simple as that. It’s almost inevitable. You want to pull your credit to make sure that accounts on your credit reports are reporting accurately. You want to make sure that account balances are reporting correctly. That is a huge deal. If you have a paid off credit card, but the credit bureaus are reporting the balance as the high limit, then it is going to look like your credit card is maxed out, and ultimately drop your scores 50-100 points, all because of a mistake made by the bureaus, which, as I said earlier, is pretty much going to happen unless you monitor your scores and stay on top of your credit.
So pull your scores early this year and make sure that your reports are cleaned up so you can stay credit worthy, financially stable, and happy in the beginning of the new decade!