Credit score: How often should you check it and why?

livemint.com:

To correct mistakes: It is not uncommon to spot mistakes on credit reports. So, regularly checking your credit score allows you to spot any errors, such as inaccuracies in personal information or incorrect reporting of accounts or payments. Correcting these errors promptly can prevent from negatively affecting your creditworthiness.

Preparation for financial decisions: Before applying for a loan, mortgage, or credit card, it’s essential to know your credit score. Lenders use your credit score to determine your creditworthiness and the terms of the credit they offer you. Financial awareness: Your credit score is a reflection of your creditworthiness and financial health.

Monitoring it regularly helps you stay informed about your financial standing and any changes that may impact your ability to borrow money or access financial products. Improving credit health: Monitoring your credit score provides motivation to maintain or improve your credit health. By regularly reviewing your score and understanding the factors influencing it, you can take proactive steps to build a positive credit history, such as making timely payments, reducing debt, and managing credit responsibly.

So, regularly checking credit score enables you to make informed financial decisions, saves you from fraud, and helps you take control of your credit health. Monitoring your credit score regularly helps you stay informed about your financial standing and any changes that may impact your ability to borrow money or access financial products. Most experts recommend to check the credit score at least once a year.