英语听力文摘 English Digest 14、Checking Your Credit Score Regularly

　　You might want to find out what your credit score is, because it's a very important number that many of us probably don't know. As Susan Jhun explains in this NY1 For You report, it can have a huge effect on your life.

If you don't know what your credit score is, it's time to find out.

“It can be used to determine what rate you pay on your credit cards, your mortgage, an auto 1 loan, but also could be used to determine whether an employer wants to hire you or whether a landlord wants to rent to you,” says Lisa Lee Freeman of Consumer Reports magazine. “It also may determine your auto insurance and homeowner rates.”

Many consumers are unaware 2 of its importance, and Consumer Reports found many have never ordered a credit report.

“It's very, very rare to find people who are up on their credit scores,” says Freeman. “But you should be checking them once a year at least, and if you're applying for a loan you should be checking more frequently to make sure that you score is as high as it can be and to make sure there are no errors.”

According to one survey, 25 percent of all credit reports have errors serious enough to cost consumers loans and even jobs.

“Go and order your credit reports so you can make sure all the information in there is accurate,” says Freeman. “You may also spot information that's a result of identity theft. By going through your credit reports you may find accounts that have been opened in your name by somebody else, so there are many different reasons that it's important to go and look at this document that affects so many aspects of your life.”

To clear up mistakes you should contact the three major credit reporting agencies; Equifax, Experian and TransUnion. Once you get your credit report, if you want to improve your score try the following tips:

Sign up for automatic bill payment to avoid paying your bills late.

Cut spending and reduce your debt if you're planning on applying for a loan.

Limit credit card applications - every time you apply it lowers your score.

Don't cancel cards, that will lower your debt-to-credit ratio, which will lower your score.

Adverse 3 information can stay on file for seven years, so the sooner you check your report, the better.

The website www.tingroom.com will be available to consumers in September. There you can order free credit reports from the three reporting agencies.

For now, for a fee you can obtain reports by contacting the agencies directly.

For more on getting your credit in shape, check out the current issue of Consumer Reports.

- Susan Jhun