Your Guide on How to Protect Your Credit

Your Guide on How to Protect Your Credit

Credit is essential to obtaining many of the things that are required to live as an adult in today’s world.  You can’t get a mortgage, car loan, student loan, or other loan without it.  It also affects if you can get insurance, an apartment, a job, and other things.  You need to know how to protect your credit if you want to continue to grow financially.

Being in debt may sound like a bad thing, but when used intelligently it can be very useful in building wealth.  Good debt is debt that in the long-term creates value.  It includes student loans, a business loan, or a mortgage.  Protect your credit by paying attention to the terms of these loans. Of course one of the most important steps to protect your credit is to pay these bills on time, every month.  Don’t just make the minimum payment, and set up payment reminders so you never forget.  Missing payments is detrimental to your credit score.

You should also protect your credit by using a credit monitoring service.  These monitor your credit report and alert you to certain changes such as new accounts, inquires, and changes to your basic information.  You can be as careful as you like with your money and your debt, but if an identity thief gets your personal information and opens up credit cards and other accounts, that could be devastating to your credit.  If you do not monitor your credit report, you may not even know that you have been a victim until the collection calls start coming.  By that point, they may have racked up massive amounts of debts and it can take a very long time to get your credit report cleaned up.


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