Individuals should read their credit report at least once a year, according to Consumer Financial Protection Bureau. Checking a credit score at least once a year allows an individual to check for accuracy to ensure there are no errors and no fraud has been committed.
Having up-to-date and error-free credit information is essential for receiving the best available loans and a good credit rating, the Consumer Financial Protection Bureau reports. Additionally, an individual should check his credit score before making major changes such as purchasing a house and applying for a new job. If there are any discrepancies in a credit report, they can be disputed or changes made beforehand to maximize opportunities. If an individual checks his own credit report, it does not negatively impact his credit score.