Many credit frauds exist today. People are now very vigilant about their credit reports and want to know efficient ways to credit check. If you check your credit once a year, you will be able to find errors such as identity theft on it and make them right by informing the relevant authorities in time.
There are many websites providing you with instructions how to credit check. Annualcreditreport, Experian, Freecreditreport etc., are well known websites that help you to check your credit. You have to enter your personal details and social security number to check credit.
When you gain access to your credit report, you can print them out. Check twice the report giving full attention to its details. Your keen attention would help you to find any strange entries on them, which you are not familiar with.
Transactions, purchases, loans and every other financial dealing you made are on the credit report and you should be aware of them to find errors. Whenever there are figures that you cannot pinpoint rightly, that figure may be an incorrect entry. Keep attention on any payments that have made late too. Check also whether your closed accounts are noted as closed on the credit report too. If it is not closed, there maybe irregular fraud connecting with them.
Look at your credit score to know if it is in lower value. You have to pay to check the credit score. Banks and other financial institution won't grant you any loans if your credit score number is under the accepted value. The credit score number goes lower when you don't have enough credit or, when you failed to make loan payments in time. It is only needed if you hope to have a loan from a bank. Otherwise, you don't have to check it.
Typically, financial institutions check your credit to grant your requested loans. It creates a negative mark on your credit score. Nevertheless, if you don't have a need to apply for credit regularly, this impact is minimal. However, the credit score never goes down by checking your own report.
Two types of credit checks are established now. They are called soft and hard checking. Your checking your own credit report is the soft checking while hard checking happens when you request a loan or other type of credit from a company. Usually, credit card companies checking your credit report affects negatively on your credit score. Therefore, it is imperative to avoid getting unnecessary credit cards. When you want to make a necessary purchase, this negative score rate may give you negative results.