Is it necessary to keep a check on our Credit report?

Many people want an answer to this. Knowing your current credit report is important, but one has to be equally cautious while getting this information. You need to check your credit report at least once in six months. Remember checking your credit report helps in protecting your credit rating. Moreover, it also helps you to keep a check on your creditors. There may be times when your creditor might fail to report a past due balance.

Free Instant online credit report contains a complete summary of your personal information. It contains your name, your residential addresses, contact number, Social Security number, month and year of birth as well as your employment information. It also contains information about any bankruptcy in your credit report. Your financial institution may periodically obtain your credit report so as to maintain your up to date records.

There are various types of credit report such as business credit report, consumer credit report, yearly credit report, etc. Initially, there was a strict prohibition on disclosure of instant credit report but now any person can apply for his/her credit report. Many lenders and retailers who extend credit facilities entirely depend on credit report and score to give credit to their customers.