April 29, 2015 6:39 am
Of those who had not checked their credit reports, 34 percent never thought about checking them and 26 percent do not believe they are important, the survey found. Twenty-nine percent believe because they pay their bills on time, there’s no need to check them.
“Credit reports play a major factor in determining if you’ll be approved for a loan, apartment or even a job, so it’s essential to monitor and understand your report,” explains Gerri Detweiler, Credit.com. “Not only do credit reports indicate your credit worthiness, they are the first line of defense in monitoring for potential identity theft.”
Misconceptions exist for those who have checked their credit reports, according to the survey. One in ten found a collection account they were unaware of, and one in nine discovered a late payment they weren’t aware of. Twenty-seven percent were surprised by some of the information that appeared on their credit reports; 21 percent found incorrect information in general.
Published with permission from RISMedia.