Do you know what your credit score is?
I had mine checked when we bought our house 2 years ago, it was really good. Well I was told a number that didn’t mean anything to me and told that it was good, so I guess I really don’t know how good it was. Should I care?
I was just thinking about this because I just saw a commercial for some company, I’m not sure what the company was. The basically said you might as well be throwing your money away if you are not checking your credit score regularly.
I assume that company makes money when they check your credit score for you. Why else would they spend money on advertising to tell you to check your credit score? Sounds to me like you are probably throwing money away if you indeed are checking your credit score regularly.
WTF
Can anyone who has a financial mind explain how paying money regularly for someone to tell me a number that doesn’t mean anything to me save me money?
You don’t have to pay to check your credit score. You can check it for free once a year from three different companies.
Assuming once a year is regularly, how am I losing money by not doing that once a year?
You aren’t. Checking your credit report is pretty important though, since it is oftentimes the best way to determine if you are a victim of identity theft. If new accounts show up year to year and you haven’t opened, you’ve obviously got a problem and potentially will lose money fixing it. The score is less important, and really only comes into play if you need a loan.
ok, i guess that makes sense. So where are these 3 different companies that will do this for you for free?
This link should have the information you need: http://www.ftc.gov/bcp/conline/pubs/credit/freereports.shtm . It answers a number of questions about credit reports as well.
I heard that if you don’t check your credit score on a regular basis, you will get face cancers.