Personal Credit Report  | Jul 23,2007

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  Your personal credit report is a detailed history of your credit activities. It includes information about where you have lived, worked and borrowed money from, as well as information about who has reviewed your credit history. The information found in your personal credit report is used to calculate your FICO score, which is then used by creditors to determine what rates, terms and products you qualify for.

Monitoring Your Personal Credit Report

In order to manage your personal credit report it is important that you monitor it regularly. The frequency that you check your credit report each year needs to be based on how active your credit is, how much credit you have and how vulnerable your credit is to fraudulent activity. For example if you have a relatively short credit history with only one or two entries, then you probably only need to monitor your personal credit report once a year. However, if your credit report is over five pages long and you use your credit cards regularly, then you may want to monitor your credit report on a monthly basis.

Managing Your Personal Credit Report

Your personal credit report is a valuable tool that you need to learn how to manage and use. You not only need to review it periodically, but you also need to correct errors when you spot them and you need to report any suspicious activity that you spot in your credit report. Finally, you need to learn that grand claims made by some companies to create a new credit report file for you or to erase a bankruptcy from your credit report are not companies that you should work with. To improve your credit report earnestly all you have to do is manage your credit with smart moves, healthy spending habits and close monitoring.