By Joy Miller

During your lifetime, you have built financial stability and protected your hard-earned assets.

Monitoring your credit report regularly is one of the most important steps in maintaining financial security. Simple steps such as this can help you avoid fraud, errors and financial complications in the future.

Top reasons to monitor credit reports

Prevent identity theft. Criminals often target older adults because they believe they are more trusting or less tech savvy. By checking your credit report regularly, you can quickly spot suspicious activities such as unauthorized credit card openings, loans taken out in your name or strange addresses and personal information changes. Catching these issues early can save you from significant financial and personal stress.

Catch and correct errors. Credit reports aren’t perfect. Mistakes happen more often than you might think. You might find incorrect account information, wrong personal details, payment histories that don’t match your records or accounts that don’t belong to you. These errors can damage your credit score and cause problems when you’re applying for a loan, opening a new credit card or securing housing.

Protect your financial independence. Keeping your credit report clean and accurate helps maintain your financial flexibility. A good credit report ensures you can qualify for better interest rates, maintain access to credit, avoid unexpected financial barriers and preserve your financial reputation. It’s like a financial passport that opens doors to opportunities.

How to get a credit report

Getting a copy of your credit report is easier than you might think. You can request a report at AnnualCreditReport.com or call 1-877-322-8228. Each year, you can receive a free report from each of the three major credit bureaus: Equifax, Experian and TransUnion.

When you receive your report, carefully review it for unknown accounts, inaccurate personal information, unexpected credit inquiries, outdated or incorrect payment histories or signs of potential identity theft. If you find anything suspicious, take immediate steps to resolve the issue with the specific credit bureau.

What to in finding problems

If you discover errors or suspicious activity, take these steps: file a dispute with the credit bureau, consider placing a fraud alert on your credit file and keep detailed records of all your communications.

Documenting everything is crucial in protecting your financial identity.

Financial health matters

Remember, your credit report isn’t just a document – it’s an essential tool for maintaining your financial health. Taking just a few minutes to review it can save you months or even years of potential financial headaches. Stay proactive, stay informed and protect the financial security you’ve worked so hard to build.

A final tip

K-State Research and Extension’s Check Your Credit program provides email reminders to help you stay on top of your financial monitoring. You will receive an email to remind you to check your free credit report every June 6, Oct. 10 and Feb. 2, and receive additional information on credit.

Registration for Check Your Credit is available at tinyurl.com/JoCoCYC.

Joy Miller is the family and community wellness agent at the Johnson County K-State Research and Extension Office.