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Investment Planning |
Know Your Credit Status
It’s a good idea to check your credit report every year or two. Banks will check your credit report when you apply for a mortgage, and you certainly don’t want to find out about credit mistakes or problems when your dream home is on the line. Credit card companies also generally check your credit report before issuing you a new card.
Ordering Your Free Credit Report
The yearly verification for California residents just got a little easier, as they are now eligible to request a free credit report on an annual basis from all three credit agencies: TransUnion, Experian, and Equifax. Residents of other states will begin eligibility for free credit reports over the coming year. To start your credit report request online, go to https://www.annualcreditreport.com/cra/index.jsp.
The website will prompt you to type in your state of residence and confirm your identity. Then, you’ll choose which agency you want to receive a report from. Follow the prompts to get your online report, and repeat the process for the other two agencies. If you find an inaccuracy, reporting instructions are provided.
You may want to stagger the reports you receive from each agency instead of receiving them all together. That way, you can monitor your credit history throughout the year. Instructions for requesting a report by phone or mail are also listed on the site.
Tips Disclaimer
These tips contain information that may change over time as a result of new tax legislation. Although we make efforts to keep this information current, you should check with your tax advisor before taking action based upon any information contained in these tips.