How to Watch Your Credit Score

Watch your credit scores by ordering new copies of your credit reports every few months. The reports list your credit score, along with information about your accounts, including balances, your payment history and your available amount of credit. Regularly watching your credit scores is a fundamental part of both credit repair and sound financial management.

Instructions

1

Order a free credit report. The website Annual Credit Report makes it easy for you to watch your scores. The three major credit bureaus--TransUnion, Experian and Equifax--created the site to comply with a federal law entitling you to three free credit reports a year. You can order one report from each of the bureaus over the 12 months, and you can stagger the requests. To order your first report, visit Annual Credit Report and click on "Request Report" on the homepage. Or call 877-322-8228.

2

Find your credit score on the first page of the credit report. Compare it against industry averages for "good" or "bad" credit. According to the Federal Trade Commission, credit scores generally range from about 300-850. A score of 620 is generally considered at the bottom end of "good" credit, with scores above 700 necessary for the best interest rates on mortage and auto loans.

3

Challenge errors on your credit report that might be lowering your scores For example, the credit bureau might report an account as delinquent although you know it is current. Write the credit bureau. Ask that the information be corrected within 30 days, as required by federal law when you file a dispute to challenge incorrect information. Send your letter by standard mail, or dispute online by visiting the credit bureau website and clicking the "Disputes" menu tab.

Equifax
P.O. Box 740241
Atlanta, GA 30374-0241
800-685-1111.

Experian
P.O. Box 2104
Allen, TX 75013
888-397-3742

TransUnion
P.O. Box 1000
Chester, PA 19022
800-916-8800.

4

Continue ordering your credit reports at four-month intervals for free at Annual Credit Report. Take note of your credit scores and audit the reports for accuracy. By staggering the requests, you 'll receive credit reports year-round for free as you continue to watch your scores.