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Free Credit Reports: Are They Legit?

by | Oct 26, 2022 | Credit

Are free credit reports legit?

Inflation is running rampant, and it seems as though it’s the only thing people can talk about. It doesn’t seem to matter if a person’s favorite team wins this weekend, they get a big raise at work, they find a new favorite pair of shoes or finally figure out how to access all their streaming apps without having to use different remotes, the conversation eventually goes back to inflation and the increased cost of living.

The cost of living is going to go up and unfortunately, it’s not because people are making more money, it’s because people are able to make more money. Households are able to bring in more money than ever before thanks to remote and flexible work. Mom can work during the day and dad can cover nights running delivery for $20 an hour.

If you’re reading this article, you’re likely wanting to know what credit reports you can trust, and if getting a free one is worth it. If you’re ready to get a trusted, secure, accurate credit report, check out The Renter’s Best Friend Credit Report program here (or keep reading for more).

If making money becomes too easy, then eventually the value of that money goes down. So, the cost of living went up and those who were not actually making more money got hit the hardest.

In order to combat that, and the reason you are reading this article, interest rates are being raised at a fast rate to slow down the borrowing of money. If people are buying less, there’s less to spend and soon the economy slows down a bit. This is how major recessions are avoided and it is a strategy that’s proven time and time again.

So, the good news is that the experts are raising rates in a calculated strategy to make sure any economic difficulties we have are minimal and short-term. The less-than-great news is that you and I will have to spend more and pay way more if we are borrowing money while struggling to make more as jobs become less available.

Are Free Credit Reports Legitimate and Do They Work?

While this isn’t an exactly ideal situation, it does create an opportunity for us to learn the value of the financial courses these institutions are setting upon us. Borrowing money, whether for a house, a vehicle or anything else, comes down to the rates that are set along with your credit score. Your credit score, that fictitious number you think doesn’t exist, can have an impact on where you live, if you can rent or buy, where you work and so much more.

Benefits Of Checking Your Credit Score

Imagine having such an important number that can influence so many aspects of your life, yet you have no idea what it is? By now you’ve had to have learned that the lower your numbers, the more you pay when you borrow money. The difference is staggering and taking a year or two to work on building your numbers can save you thousands of dollars a year if you borrow money for a house.

Homeowners sometimes take a lackadaisical approach to managing their credit as well, especially if they already have the vehicles they plan on driving each year. These lapses usually go as far as the first call from a creditor, but they can add little unexpected dings to your numbers which is not ideal. That’s why, checking your score is important so that you are aware of whether or not it has taken any hits recently.

The next argument you will have is that you pay your bills on time, every month. That’s fantastic and you should be proud, but you still need to check a credit report. Why? These reports show what movement is being made under your name and social security number. That is why they are one of the top and most reliable ways to monitor your information for identity theft and fraud.

You may also see mistakes where errors were made that are keeping your numbers low. Because the information that influences these numbers are always subject to change, what is there isn’t always accurate.

How Often Should You Check Your Credit?

Your credit score is based on a variety of things including how well you do at paying debt. Yes, the numbers that some treat with more care than their cholesterol levels, are based on how well you do when you borrow money. That means if you pay your bills every month on time, you have a strong score, sort of. There’s a lot more that goes into it including how much you’ve borrowed and so forth.

For example, you can’t have perfect numbers (over 800) if you have never borrowed over $50 in your life.

Having a strong score lets lenders know that you are reliable to lend money to. These numbers and the information behind them that is found in reports have become so important that they are even used now to distinguish applicants for jobs. That’s right, when a company is having difficulty breaking down qualified candidates for a single position, they will turn to credit scores in some cases to determine who is the better option.

With something that important, you may want to check your numbers. The best practice is to check it once a year as over-checking can be bad. One thing people always forget is that when you apply for financing whether it’s a bank, a new card, a new piece of furniture or anything else, your score is checked and that can lower your rating.

So, only checking once a year is ideal and it will give you an understanding of what you are working with and what you need to improve.

Now you’ve learned a great deal about credit and why it’s important to check your score via a report every year. Are you completely thrilled that the fictitious number you have minimal knowledge about actually has a major influence over your life, can be easily influenced by false data and is one of your best chances of seeing identity theft early on?

It’s hard to deny the importance of your credit score to your personal life when you realize the influence it can have on the money you have to make and the hours you have to work. Thankfully, we now have more ways to access this information and improve our numbers well before we need to borrow money. It does take time, but with the help of these free reports, you can get fast results.

Are you ready to finally have the credit score you’ve always wished for? If so, we can turn that into a reality with our The Renter’s Best Friend Credit Repair program. Get started right now.

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