Lesson 7: Understanding Credit - Checklist
Credit Report Access
Request statutory credit report from Experian
Request statutory credit report from Equifax
Request statutory credit report from TransUnion
Set up free ongoing monitoring (ClearScore, Credit Club, Credit Karma)
Review all three reports for errors or discrepancies
Credit Score Improvement
Register on the electoral roll at your current address
Set up direct debits for all bill payments
Keep credit utilization below 30% on all cards
Check for and remove outdated financial associations
Create plan to address any negative marks
Credit Card Management
Review interest rates and fees on all cards
Set up automatic payments for at least the minimum
Consider balance transfer options for high-interest debt
Evaluate rewards programs for alignment with spending habits
Create strategy for which card to use for different purchases
Credit Protection
Set up fraud alerts with credit reference agencies
Create strong, unique passwords for financial accounts
Monitor statements regularly for unauthorized transactions
Consider credit freezes if not actively applying for credit
Develop plan for responding to suspected identity theft