The credit report is one of the most important documents in your life. A poor credit score or problems on your credit report can have devastating impact on your ability to obtain a job, apartment, mortgage, car loan and a number of other areas where your financial information is used. Fortunately, it is easy to obtain an absolutely free credit report.  Why is a credit report important? Read below to find out how this document can have a profound effect on your life.

Identity Theft

Credit score reports are often a first indication that an identity theft has occurred. It is vital that you get this information quickly so that you can stop the problems from being reported on your credit report. Consumers should view their credit report at least once a year to check for inaccuracies. Some of the inaccuracies that you will find will be simple mistakes or outdated information. However, there are other times when you will find the evidence of an identity theft on your report, so it is crucial to find out how to get a credit report. Credit cards opened in your name that you had nothing to do with are a sign that someone is using your identity to obtain credit. Of course, most of the time the thief is not paying on the account and this can have a terrible impact on the score provided by credit reporting bureaus.

Before You Obtain A Mortgage

Another reason when checking credit reports becomes important is when you are about to obtain a mortgage for your home. It is recommended that you get a copy of your credit report to clear up any inaccuracies or problems that are reported on your credit report. If you are trying to buy your first home and are asking why is a credit report important, consider your interest rates. Your credit score will be the deciding factor on the interest rate that you will pay for your home.

Finding Employment Or An Apartment

Many people don’t realize that negative information on your credit report can have an impact on your ability to find a job. Employers will often check the credit history of applicants to help find an ideal candidate. The next time you are looking for employment, ask again why is a credit report important and you will soon realize how vital it really is for your future. Landlords will also use a credit report to choose their next tenants. Having negative information on your credit report will severely limit the places you can work and live.

To find out more information about your credit history, try searching “free credit check com” online.