Good credit reports increasingly important

For most people, checking your credit report twice a year is sufficient. Consumers who want to be pre-approved for the real estate market or for another type of large purchase should start checking quarterly about a year before they shop for a mortgage, says Fenton N. Soliz, president of Mortgage Experts Inc. in White Plains, N.Y.

Even if there are no mistakes, information is power.

'It's like looking at a picture of yourself,' says Duni. 'When people see it they want to act on it. Especially for someone in their 20s, if they haven't always paid their bills on time. By their late 20s when they're ready to buy a house, there's plenty of time to get their credit score above 650 -- that's what most lenders are looking for to get a good rate.'

Despite all the information consumers are bombarded with about credit history, most people still don't check their credit score. Last year, TrueCredit did a survey with random digit dialing and asked consumers if they know their credit score.

Less then 10 percent of people were able to answer the question.

Full article from delawareonline