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Checking one’s credit scores on a regular basis is a healthy habit. This is something like doing yoga regularly. You might not see any visible effects immediately but in long-term, you are avoiding a lot of serious problems that could occur anytime. So, it’s basically a precautionary effort and as is said, “Precaution is better than cure”. Hence one should also take this precautious step of checking credit scores on regular basis.
Here are 5 good reasons why you should regularly check your score:
1. Know where you stand:
It is important to know the credit scores whether they are of any immediate benefit or not. It is like getting a health check-up done on a regular basis. If done on a regular basis, one can always take precautionary steps to get rid of any impending danger. Hence one should regularly check his or her credit scores. To make this a hassle-free process, one can request the regular credit report from CreditSeva by creating an account on it one time.
2. For accuracy of credit scores:
Checking your credit report on a regular basis can help you know whether your credit scores are accurate know. Lower than expected scores could indicate an error in the report and will hence need your immediate attention. In such a case, one will have to get in touch with the credit agencies to get the errors rectified or one can seek help from CreditSeva’s professional services to get the work done on your behalf.
3. To know which actions affect your credit scores:
This is important! By checking your credit report regularly you can know well that whether that impromptu application to various credit card agencies have affected your scores or if it is your account holding bank, which is affecting your rating.
This is even more important if you are planning to take a loan or apply for a credit card as you will know well in advance which actions to avoid getting the loan or card approved and which ones should be carried on.
4. Help in responding immediately:
At times people become victim of identity theft or their account reflects unnecessary dues for a long time just because they remained oblivion to scores. This can cause serious problems if you are not a regular checker of your credit health. Hence a regular check of ones scores make one aware of any unexpected changes in the behavior of rating further enabling him or her to take a prompt action against any dispute. The bottom line is the sooner you act, the better it is! Little late could harm you long!
5. To avail offers on credit cards:
This is one good reason to check your credit health on a regular basis. Tapering scores could help you negotiate better with the credit card agencies. You can always ask them to lower the interest rates. This is also the best time to apply for loans.
Banks prefer people who have good credit score rating hence they’ll be more than willing to offer you a loan or a credit card if your scores reflect your healthiness in repaying debt.
These 5 reasons should be good enough to convince a person to know the importance of checking one’s credit scores on a regular basis. It is a precautionary step. One can always avoid any serious impending dispute by checking the scores regularly. And the best part is that CreditSeva provides this service for free which means that you can check your credit card scores anytime, save yourself from any credit disputes totally free of cost.
How often should I check my credit scores?
The answer to this is – there is no limit. If you are applying for loans or credit cards then your scores might be changing on daily basis but if you are diligently and regularly paying your EMIs then checking once or twice in a month is also sufficient.
It all depends on how often you are tampering with your credit. If you are planning to take a loan soon to buy a car or house, and applying for the same to different lending agencies then you should be regular in checking your scores. Even if not for this reason, still one should check his or her scores on a regular basis to avoid and stay cautious of anything like identity theft or incorrect reporting of information.
Will checking credit scores too frequently affect my credit scores?
Checking your credit card scores is a soft enquiry if done by an individual to know the immediate number or just as a regular check hence it will not affect your scores. However, if the same is done too frequently by lending agencies or banks then it can show your desperation to get credit and can hence affect your scores. Credit scores asked by a bank or a financial institution to know your credit health in order to approve your loan or credit card proves to be a hard enquiry as it is done for the purpose of giving you credit. If this is done too frequently, it will definitely affect your scores in an adverse manner.
One can always approach the credit agencies to remove such institutions which are unnecessarily affecting your scores or are inquiring your credit health without your knowledge because the one who’ll get affected by it will be you.
Nowadays, prospective employers or landlords also prefer to check the credit scores of a person to know his or her credit health or capability of paying the rent.
How should I check my credit scores?
You can check your scores by signing up for a one-time account on creditseva. This will help you to check the scores for free of cost and also this will provide you regular reports of your credit rating without asking for the same. The best part is that CreditSeva can help you rectify your credit related errors on your own without any breach of privacy. No doubt this is important as it well known that nowadays there are a lot of fraud financial agencies which can misuse your credit information.
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