More Than 1 in 3 Americans Have Never Checked Any of Their Credit Reports
In an effort to help consumers monitor and protect their credit, Bankrate.com has launched myBankrate™. The new service offers a truly free credit score and credit report (both updated monthly), as well as other no-cost financial assessment tools to help people make better informed financial decisions. myBankrate™ is available at:
Credit reports are important documents that lenders, employers, landlords, utility companies and others use to measure financial responsibility. Credit reports detail a person's credit history, including payment records, available credit and delinquencies. A credit score is a three-digit number generated using information from an individual's credit report. Credit scores help determine loan qualifications, interest rates and credit limits. Frequent credit monitoring can protect consumers against identity theft and errors (the
"Monitoring your credit goes well beyond scanning a three-digit number," said
At least the new Bankrate.com survey found not all consumers are lagging behind. About half of Americans (48%) have reviewed at least one of their credit reports within the past year. Those between the ages of 30 and 49 were the most likely to do so. One in four Americans review their credit reports more than once a year.
To see the full survey results, go to: http://www.bankrate.com/finance/consumer-index/money-pulse-0504.aspx.
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