Good idea to monitor credit report and scores

Wednesday, September 5, 2012

A person's credit report is an important tool because the credit score is determined by evaluating information in the report according to Nellie Lamers, family financial education specialist, University of Missouri Extension.

"Creditors, employers, landlords and others use your credit report and score to determine the interest rate you pay and whether or not you are offered a job, lease or credit," said Lamers.

Four pieces of information make up a person's credit report. They include: identification; credit history and information about ability to repay the loan/credit; public record information; and inquiries into the report.

"Monitoring your credit reports regularly is very important and we recommend you got a copy of your credit report at least once a year," said Lamers.

Get a free copy of a credit report from each of the three reporting agencies- Equifax, Experian and TransUnion, once a year online at Reports can also be requested by calling 1-800-821-7232 or sending a written request form to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

To learn about credit repair, visit the Federal Trade Commission Credit Repair information at

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