How Often Should You Check Your Credit Report And Score?

We know that it's important to check your credit report, but how often should you check your credit report and score? Many people tend to look at their report on an annual basis, but there are several situations where you may want to check it more often.

1. Your Information Has Been Compromised

- If you've been notified that you have been affected as part of a data breach,  keep a close eye on your credit for the next few months. Checking your credit score is your first line of defense against any identity theft or fraud.

2. When You Are Trying To Build Your Credit

- Building credit is hard work and takes time, and being able to see the progress you're making on your credit report will be the fuel you need to keep pushing! Your credit report will also show you anything that's holding you back, which means you can pinpoint your efforts in effective ways.

3. You Are Planning On Borrowing A Large Amount

- If you're planning on purchasing your first home and applying for a mortgage, you're definitely going to want to keep a close eye on your credit score to make sure that it's as high as possible! You can save thousands of dollars on your mortgage with a higher credit score.

Outside of these situations, checking your credit score once a year should be good enough. Keep in mind that there are free services out there that allow you to monitor your credit.

You can check your credit score for free here: Free Credit Score

And you can check your report here: Borrowell

How often do you check your credit report and score? Let us know in the comments!