Monitor your credit report - Reasons Why You Should Monitor Your Credit Report

Consolidated record of your finances in a detailed document is called credit report.Credit bureaus like Equifax, Experian, and TransUnion maintain this record. They evaluate your financial information to calculate your credit score, which is a numerical score that decides your creditworthiness.
 
Based on your credit score a potential lender can know how trustworthy your to get a credit or loan.you should have a habit of monitor your credit at least once a year.

Reporting Errors :

Credit Report errors are quite common and Your card-issuing company might make mistakes while filing your report with the credit bureaus.

Here are a few common errors that you must look out for:

1. A new address or phone number that is not yours
2. Error in the spelling of your name
3. Unknown accounts owned by someone with a name that’s similar to yours
4. The same debt or payment failure note listed multiple times
5. Incorrect dates
6. Mistakenly reported delinquency or late payment
7. False record of the current balance
8. Incorrectly recorded credit limit
9. Closed accounts that are marked as open
10. Accounts appearing various times with different creditors listed
11. Unauthorized accounts
12. Statements in which you are an authorized user, but you are marked as the primary user.