By Gregg Gonzalez, CFP®
At RetireStrong Financial Advisors, we believe that knowledge is power especially when it comes to your finances. One of the smartest steps you can take toward financial confidence is checking your credit report regularly. It’s a simple habit that helps protect your financial health, catch errors early, and keep your retirement plans on track.
What Is a Credit Report?
Your credit report is a detailed record of your credit history. It includes information such as:
- Your open and closed accounts (credit cards, loans, mortgages)
- Payment history
- Credit limits and balances
- Public records like bankruptcies or foreclosures
- Recent credit inquiries
Think of it as your financial “report card.” Lenders use it to decide whether to approve you for credit and at what interest rate.
Why Checking Your Credit Report Matters
Even if you’re close to or already in retirement, your credit report still impacts your financial life. Reviewing it helps you:
- Spot Errors: Mistakes happen, and they can drag down your credit score.
- Prevent Fraud: Unauthorized accounts may signal identity theft.
- Stay Informed: Knowing where you stand gives you control over your next financial move.
At RetireStrong, we often remind clients: you can’t fix what you don’t see. Checking your report is the first step toward financial strength.
How to Check Your Credit Report
- Visit AnnualCreditReport.com
This is the only federally authorized website for free credit reports from all three major bureaus: Equifax, Experian, and TransUnion. - Request Reports from All Three Bureaus
Each bureau may have slightly different information. Reviewing all three gives you a complete picture. - Review Carefully
Look for errors in personal information, accounts you don’t recognize, or incorrect balances. - Dispute Mistakes
If you find an error, contact the bureau directly. They are required to investigate and correct legitimate mistakes. - Check Regularly
You’re entitled to one free report per bureau every 12 months. Spacing them out (one every four months) helps you keep tabs on your credit year-round.
Credit Reports and Retirement Planning
At RetireStrong, we work with women and couples age 50+ who want confidence in every aspect of their financial lives. Checking your credit report ensures that:
- Errors don’t cost you money in higher interest rates.
- Fraud doesn’t derail your savings.
- You stay in control of your financial reputation.
The Bottom Line
Your credit report is more than paperwork; it’s a snapshot of your financial history. By checking it regularly, you protect your retirement savings, your financial reputation, and your confidence.
At RetireStrong Financial Advisors, we simplify the process and walk alongside you so that every step you take is a step toward confidence.
✅ RetireStrong Takeaway: Review your credit report regularly. It’s one of the easiest ways to protect your finances and stay RetireStrong.
