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Friday, December 9, 2011

How Important Are Credit Scores?

I’m in the process of enlightening my oldest child about the dangers of identity theft.  Just this morning, she received an email regarding an “issue” with her checking account. I advised her to contact the bank
via their website and not respond to the email.  My concern was that the email was sent by a hacker in an attempt to gain access to her account and, thus, ruin her credit score.  This incident was a great lead-in to a discussion about her credit report and its importance.
Being vigilant about checking our credit reports, on a regular basis, is something we should all strive for. Often, doing so is the only way people become aware they have become victims of identity theft.  Identify theft not only affects one’s credit score, but it also puts undo stress on their family.  It makes it difficult to keep a budget during these turbulent economic times, and makes applying for a loan, which can be a nail-biting experience to begin with, even more arduous.
Finding an online company that provides free credit score information, on a constant basis, is not possible at this time.  However, there are companies that provide free credit score information as part of a trial membership.  Enlisting their services can be done from the comfort of our homes, which is a big plus in my book.  The greatest benefit, though, is peace-of-mind that we are being proactive about preventing someone from taking on our identity and ruining our credit score which can negatively affect so many aspects of our lives.

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