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Why You Should Monitor Your Rockton Credit Report

Why You Should Monitor Your Rockton Credit Report

Even if you’re not planning on taking out an auto loan in the near future, it’s still a good idea to keep an eye on your Rockton credit report. Your credit report can influence a lot more than just your auto loan so keeping an eye on it is key.


If you don’t believe us, our Rockton auto loan team have put together some good reasons to monitor it.


Detect identity theft


Keeping an eye on your credit report can alert you to identity theft much faster than other methods. You will see your credit score dip if credit is accessed in your name and a quick check of your report will show any recent activity.


Not all activity will result in a reduced credit score but is often a sign that someone else is using your identity. You can then take action by alerting the credit bureaus and your banks.


It’s free and simple to do


A good reason to check your credit score is because it’s free and easy. You are entitled to one free check per credit bureau per year so you could check twice a year with TransUnion and Equifax.


Check your credit report once with TransUnion and check again six months later with Equifax, or the other way round. Twice a year is enough for most people, which means you’ll not have to pay a cent!


To detect errors on your credit history


The average credit report can contain a lot of information, some of which may be incorrect. Checking regularly means you stay on top of any mistakes and have the time to contact the organization in question and request they correct the error.


If the organization refuses or doesn’t make the correction, you can apply directly to TransUnion and Equifax and ask them to do it. They will check with the organization in question so be ready to provide proof to support your claim!


You’ll know the likely outcome of a car loan application


If you already know your credit score, you’ll already have a good idea of whether you will be able to borrow a specific amount or not. Knowing this in advance gives you time to improve your credit score or save for a larger down payment so you can borrow less.


Knowing where you are influences what you do


Building on the above point, if you know what your credit score is, you can take any necessary steps to improve it if required. It’s far better to do this in advance of needing it rather than at the time.


Gradually increasing your score over time is less stressful and more efficient than trying to do it in a hurry. This can benefit you psychologically as well as financially!


Those are just a few reasons why checking your Rockton credit report regularly is a good idea. It’s free, easy and can be done in minutes. It can also show your entire financial position quickly, which may be all you need to prepare for your next auto loan!


Contact Unique Chrysler for help, advice and competitive Rockton car finance and leasing.


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Categories: Auto Loan

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