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Many people think that it is only individuals without money that should be worrying about their credit scores and reports. Late night marketing blitz’s on TV and internet ads don’t help this stigma since they actively target middle to lower class individuals. While credit scores are an important thing to worry about for these individuals, especially since people with less money might be more likely to mismanage their credit, it is a topic everyone should be concerned with. I even have a recent family anecdote to back this up.

In a recent conversation with my parents, who are in their 50’s and very financially sound, my mother told me how they recently had their credit card number stolen. To make a long story short, someone stole their number and ran up several charges on their credit card for Adult website memberships. It was because of this that my mom started asking me what I knew about Identity theft. I asked her if they had ever checked their credit report to see what accounts were open in their name. I was shocked to hear her say “I don’t even know what our credit score is, I don’t think we’ve ever run our own credit report”. I told her she should do it ASAP and that one of the best ways to check for identity theft is to see if there are any open lines of credit they did not authorize. Actively checking credit history can greatly reduce the impact of identity theft and also catch it at the same time. Not to mention, that it is incredibly easy to get a free credit report these days, so there are no excuses.

It just goes to show you that even financial sound or wealthier individuals should be concerned with their credit score/credit report, it isn’t just about getting a lower interest rate.

Original article from: Increase-Credit-Score.com

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