Checking your credit might be a little like the annual over 40 physical for men,  the annual OB appointment for women, or the dreaded dental appointment for all of us.  However, it's one of those necessary evils we should all plan to do once a year.  Keeping your credit in good shape is essential to your financial future.  This rule applies to everyone who has established credit of any kind.  Even those people who have bad credit "hygiene" should be looking at their credit and working to keep it accurate.

Having one bad mark on your credit can mean thousands of dollars in affordability when you're considering purchasing or refinancing your home.  Checking your credit is a little like brushing your teeth or preventive maintenance for your car.  You don't like to do it, but you know that you have to in order to avoid a massive toothache or a mechanic bill.  Federal law now allows you to pull your credit once per year from each of the 3 major Credit Bureaus.  TransUnion, Equifax, and Experian (aka The Big 3) have teamed up to create Annual Credit Report, which is dedicated to all of your credit concerns.

If you only pull from one credit reporting agency today, you can still pull the other 2 reports for the remaining credit bureaus within the same year.  So in actuality, you can pull your credit 3 times per year if you use each of The Big 3.  If you find something on your credit that you don't think is correct.  You have the right to dispute each item.  Each of The Big 3 will allow you to do this right online, which is easy and convenient.  If you dispute something, and the credit bureau still doesn't fix it.  You still have rights.  I would suggest contacting the Federal Trade Commission (FTC) for additional help.

One drawback to pulling your credit for free from The Big 3 is that they don't provide your credit score.  Knowing your credit score can make a big difference in your ability to plan towards buying your next home.  You can pay The Big 3 an additional fee to get your current credit scores.  Or, I would suggest contacting your local loan officer.  Most loan officers, like me, will pull your credit to include your credit score free of charge.  So if it's important for you to know your credit scores, pick up the phone and give them a call.