Federal law allows you to receive one free copy of your credit report from each of the three main credit reporting agencies per year. You can order reports from all three at once, or better yet, stagger them throughout the year. Pick one agency and order now at the beginning of the year, then order from the second agency in May, and order from the final agency in September. This will help you monitor your reports year round. If you find an error, act quickly to correct them so your financial reputation and your wallet do not suffer!

An error on your credit report can be costly. The costs may come in the form of higher interest rates on loans or credit cards; higher costs for services such as insurance or cell phones— even lost employment opportunities. If you don't know what's on your credit report, you could be "paying" for errors in the form of higher costs on all these things! Since federal law allows everyone to receive one free copy of your credit report from each of the 3 main credit reporting agencies each year, take advantage of it. Even a simple error such as a misspelled name or outdated address on your credit report could be costing you. Don't take a chance. Know what is on your credit report so you can make sure it is accurate! Credit monitoring services can also help you stay on top of this task if you don't have the time or want help from a professional service that can help you dispute an error if you discover one. They are well worth the money to have an extra set of eyes protecting your most valuable asset when it comes to credit— the contents of your credit report!