Do you make it a point to periodically check your credit report? You should because your credit report can make or break you. Any wrong information that is provided in your credit report can seriously hurt your financial standing and your chances of getting your loans approved. That is why you need to check your credit report from time to time.

Credit report is a detailed report of an individual’s or a company’s credit history. In short, it is a record of how you manage your finances. Lenders use credit reports in determining a borrower’s capability to pay back the loan. Have you always paid your credit card bills on time, or have you been remiss in paying? Have you ever filed for bankruptcy, or have you been sued in the past for not honoring your financial obligations? Your credit report reveals all of this information and so much more.

The three major credit bureaus—Equifax, Experian, and TransUnion–are now mandated by law to provide a free credit report online once a year. Take advantage of this opportunity to check if your credit report is up-to-date and accurate. Do yourself a favor. Get a free credit report online now.