Hello Queens Family! Your credit score is an important factor in your overall financial health. It can determine whether you are able to secure a loan, and it will also impact the interest rates that you pay on loans. While many people know the importance of having a good credit score, not everyone knows why it’s important to proactively monitor their credit. In this article, we’ll discuss the advantages of actively monitoring your credit and what steps you can take to protect yourself from potential fraud and identity theft.

Proactively monitoring your credit offers several benefits that can help you in the long run. First, proactively monitoring your credit allows you to identify any potential errors or fraudulent activity on your account before they become major problems. By catching these errors early, you can avoid more serious issues down the line such as being denied for a loan due to inaccurate information on your report. Additionally, by regularly checking your credit report, you can also spot any unauthorized activity that could be signs of identity theft or fraud. It’s important to remember that even if someone is using another person’s identity to open accounts in their name, those accounts may still appear on the victim’s credit report and affect their overall score.

Another benefit of proactively monitoring your credit is that it helps you stay aware of how lenders view you as a borrower. This knowledge can give you an idea of which loans are available to you and at what terms so that when it comes time to make major purchases like buying a car or a home, you have an idea of where you stand financially and what kind of rates and terms lenders may offer based on your current score. Finally, proactively monitoring your credit also helps ensure that all changes made to your account are legitimate and accurate—which is especially important if there has been any past identity theft or fraud involving your information.