Online Credit Checks

The Internet has made it incredibly easy for people to check their credit. There are literally hundreds of different online organizations that can instantly access your credit report and email it to you. Many of these companies will also highlight the specific things that either help or hurt your credit rating. This certainly beats waiting a week for the mailman to arrive with your credit reports.

You can actually get your credit report and credit score in seconds. Keep in mind that many of these online companies will charge you a fee to access your credit report. Depending on what state you live in, you are entitled to at least one free credit report from each of the three major agencies (Experian, Equifax and TransUnion) every year.

Preventing Identity Theft

If you've ever had your wallet or purse stolen, it's a good idea to periodically check your credit to make sure no one is falsely using your identity and destroying your credit rating. This happened to a former colleague of mine. She didn't realize she was a victim of identity theft until she was denied for a small business loan. It took her the better part of a year to clean up that mess.

The Internet has also made it easy for hackers to steal people's information. Hackers have managed to find holes in almost every firewall and virus protection software program. Every time you surf the Web, you run the risk of fall prey to an identity thief. I suggest using the same technology to protect yourself. Periodic online credit checks will significantly reduce your chances of becoming a victim of fraud.