Everyone knows that they should keep track of their credit scores, so they can maintain control over their personal finances.
For many people, though, remembering to check reports can be a hassle.
Fortunately, there are many reporting services that can give you your scores instantly, and keep you up to date on changes in your consumer record.
The way a reporting service works is simple.
You just enter your personal information, pay for a subscription, and get your scores.
Then, you will receive a notification each time new information is added to your consumer report, and each time your credit score changes by more than a few points.
Typically, you will receive these notification via email, so you won't have to worry about remembering to order your report every few months to make sure your financial strength is intact.
The reporting service may ask you for certain pieces of information to provide an additional level of security.
This protects you against having unauthorized people access your personal and financial information.
You may be asked to provide the approximate amount of your mortgage balance, the name of one of your lenders, or the date you took out a certain loan.
Although providing this information may seem like a hassle, it can save you from the horrors of identity theft.
Knowing your scores can help you plan for the future.
If you have had past credit problems, you will know what you need to work on to improve your financial strength.
Perhaps you need to focus on paying down revolving debts, or maybe you need to catch up payments on a loan to help repair your score.
Having this information will also help ensure that you are not turned down for a high paying job.
Employers frequently use consumer reports to evaluate applicants - if your score is low or you have a severely negative item on your record, you may not be able to get the job that could improve your financial situation.