Greetings Divas and Gents! As you may recall, a few months ago, I posted the first article in a series I like to call "Get Your Credit Score In Check." In that post, I shared with you Three Simple Tips to Begin Improving Your Credit Score. The number one tip on my list was to regularly check your credit report. Your credit report is a detailed statement of your credit history as reported by lenders who have extended you credit. The report provides lots of information, including “what types of credit you use, the length of time your accounts have been open, and whether you've paid your bills on time.” Ideally, checking your credit report will alert you to any discrepancies, and will put you in a position to resolve those issues that may be hurting your credit score. It is a responsible practice to get your credit report from all three reporting agencies at least once a year (TransUnion, Equifax, and Experian).
As you know, I love sharing information with my fellow professionals regarding product and services that may provide some benefit to our hectic lives. In this same sharing spirit, I wanted to give you information on a service that I have used over the past year and a half to assist me in regularly monitoring my credit report and FICO score. With a life as busy as mine, and yours I'm sure, I can use all the help I can get!
Score Watch is a service offered by MyFico.com, which monitors important changes to your credit report and your FICO score. Specifically, it monitors your Equifax credit report on a daily basis and your FICO score on a weekly basis. Among other things, it monitors and alerts you to any newly opened accounts, inquiries from applications for new credit, increases in account balances, and changes in account status. Additionally, the service alerts you to changes in your FICO score that may impact the interest rate you would likely receive on a home mortgage, auto loan or home equity loan. The service also notifies you of any change to your credit report that causes your FICO score to drop, and provides you with two Equifax credit reports each year. Pretty cool right!
I personally think that Score Watch is an excellent credit monitoring service, and I think you all should check it out. Just so you know, MyFico.com has not paid me or offered me any incentives to blog about Score Watch. This is a service that I use and that I have found to be beneficial. It feels good to know that my credit report is consistently being monitored for important changes, and that I am promptly notified when any changes occur. And the service is extremely reasonable in cost, and easy to set up and use. But don’t just take my word for it…learn more about Score Watch HERE!
If you have a chance to check it out, please let me and others readers know in the Comment section below. Also, please feel free to share any credit score boosting tips below. Thanks in advance!