Go Get Your Free Credit Report from GoFreeCredit.com

Created on 2008-04-10 04:38:52

Knowing your credit score is almost as important as knowing you’re your shoe size. Your credit score is used by lenders and other institutions to determine the potential risk of lending you money or paying your bills. Credit checks are not only performed by lenders, but by insurance companies and even cell phone companies. By periodically checking your credit score you can see what lenders see and determine if you have any credit issues that need to be addressed.

GoFreeCredit.com is a website that allows the consumer to have access to their credit report and identify their credit score. GoFreeCredit offers an initial free credit report and a free thirty day subscription to their credit monitoring. After the thirty days GoFreeCredit will charge a monthly subscription of $12.95 to view your credit report and credit score as it changes from month to month.

It is important for consumers to know that their credit score is derived from five categories. Payment history make up 35% of your credit score, so on-time payments are very important. The amount of your current debt is about 30% of your credit score, so the lower the debt, the better. The length of payment history is important, about 15% of your credit score. The other two categories, the type of credit and the number of credit inquiries, make up the final 20%.

Items are posted to the three main credit bureaus all the time and it is important to make sure that these are correct and to highlight any errors as soon as possible. GoFreeCredit offers continued access to your credit report so it is a great tool when you have been experiencing problems with your credit score and you want to monitor the situation to improve it.

Under Federal law, consumers are allowed one copy of their credit report from the three credit bureaus once a year. This is acceptable if you know you have a good credit score, but for those consumers who have less than perfect credit or if you have been the victim of identify theft, one report a year is not enough. This is where GoFreeCredit comes into its own. The monthly fee may put some people off, but the benefits of being able to constantly review the items being placed on your credit report and then having the ability to change them far outweighs the monthly charge.

The monthly subscription to GoFreeCredit can be cancelled at any time but as identify theft seems to be more commonplace than ever, it may be a wise investment to pay for credit monitoring.