Experts: Check credit as new year begins - WMC Action News 5 - Memphis, Tennessee

Experts: Check credit as new year begins

(NBC) - Personal finance experts suggest you check your credit as the new year begins.

"If there is something wrong that's on there, January is a great time to fix that or to work towards fixing that," said's Bob Sullivan.

By checking your credit, you can avoid problems that may arise when you try to make a major purchase or refinance.

Bad credit reports are also a risk for job seekers.

"Most companies now will pull your credit report when you apply for a job with them," Sullivan said. "And if there's something suspicious on there, they'll just move on to the next candidate."

One of the best things about credit reports is that Congress has mandated them to be free. is the only place you can get your free, congressionally mandated credit report each year.

Recent surveys revealed only one-third of eligible Americans take advantage of the free annual credit report, a service that has been available for five years.

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