Wednesday, June 27, 2012

Set up monitoring service to protect your FICO Score

Balance and protect your FICO score to make
sure you can make big purchases like real estate. 

With the halfway mark for 2012 nearly here, it’s time to think about your FICO Score and how your purchases in the first half of the year have affected it.  You can do this for free, though a once-a-year check may not be enough for those that are serious about improving or protecting their credit. The Equifax Finance Blog explains more ways to protect your credit in the article, “HaveYou Pulled Your Credit Report Yet?”

While you can get a free report once a year from each of the three credit reporting agencies, analysis and checking for mistakes is up to you. Even if you space your requests out to one agency every four months, you may want to keep a closer eye on your credit if you are considering a large purchase in the next year or two, like purchasing real estate.

For that closer view, there are many credit monitoring services on the market. These services watch for changes in your credit report that might signal changes in your habits, mistakes by the reporting agencies or identity theft. This can help you rest a little easier, staying safe and well informed of your financial situation. Equifax offers a credit monitoring service, but you should be sure to compare the monitoring options available and choose the service that best fits your needs.

For more information about credit, taxes, retirement, real estate and money management advice, check the frequently updated Equifax Finance Blog.

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