Why to always check your credit or have monitoring.... Thoughts?

[birjest]

When I hear people who fly first or business class due to their frequent flyer miles, or get a hefty cash reward from their credit card, when I see people have high interest credit cards and BT to 0% credit card, freeing up their old cards, bringing down their utilization and increasing their credit scores they read and study their credit. ..I can't get mad if I see them going to the head of the line, (business or first class lines) whipping out their AMEX Plat card or Chase Saph cards....they did their homework.

[dalebb]

Let me point out that only recently can we look at r credit reports and scores on a daily basis and keep track of it all

[castlefox]

How recently did that happen?  and why did that take so long?

[john398]

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@Watchmann wrote:

Frankly, I don't know anyone who pulls their free reports once a year, and I work with degreed professionals.  Most people just don't manage their financial lives very well and aren't interested enough to go online (might be a scam!) to get their reports.  And we wonder why the economy is so bad; but if people won't take responsibility for their own financial health we know what the outcome will be........a few people who manage their financial health will come out on top and the rest will be in the middle or at the bottom, and then they complain to their elected officials about how unfair it all is and we get stupid laws like Dodd-Frank which punish the responsible people in order to bail out the lazy. 

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I thought it was to relieve small business owners from the debit card fees, am I wrong?

[castlefox]

Its more complicated than just that.      https://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act

[john398]

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@castlefox wrote:

Its more complicated than just that.      https://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act

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Thanks, I guess I was just thinking of the Durbin Amendment