Earlier, I told you how to request your free credit reports. Now that you have them, are you wondering what to do with them?
Each of the three reporting agencies report the information differently, so take a look at the format so you understand exactly what you are looking at. Then, look at the high-level info, starting with your personal info. Make sure that your name and personal info is accurate (if you’ve recently changed your last name, this is especially important).
Also review any information that’s considered “negative” (some of the reports break this out). You’ll want to look for inaccuracies, as well as any potential fraud.
Then, take a look at each account. Is the credit limit right? Is the account yours (identity theft is very common)? Is the payment information accurate? Go through each one carefully, on each report.
So, what do you do if anything is wrong? Well, you can contact the reporting agency, but you may also need to contact the individual creditor. Remember that the creditors and agencies have any obligation to remove inaccuracies – not negative information but WRONG information. In general, you should expect to spend at least an hour reviewing the accounts.
