LANSING, Mich. (WLNS) – What is a credit score and why should you check it? Local money expert Stephen Schiestel explains.
“One way to protect ourselves from identity theft and to make sure that our credit report is correct and up-to-date is to review it. Fortunately, federal law allows us to get a free copy of our credit reports every 12 months from each of the three credit reporting agencies, TransUnion, Equifax, and Experian,” said Schiestel.
Schiestel recommends staggering these reports every four months.
“Let’s say that the sequence would be, get TransUnion four months later, experience, and then maybe four months later, Equifax. And they kind of repeat that cycle,” said Schiestel.
“So the question would be is then what do I check? The first thing is you want to make sure that the personally identifiable information for yourself is correct. And so this would be things like name, social security number addresses or, and, and old addresses, and then the loans that are being reported.”
The next thing to do is look and make sure there aren’t any loans that aren’t yours. Then, see who else is checking your credit score.
For more credit score tips, check out Stephen Schiestel’s full segment in the video above.