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

[Creditaddict]

I know I don't need to tell anyone here about checking credit, most of us are embarassed by how often we check our credit! lol

I don't know if anyone of you know anyone like this so I realize this might be a pretty broad statement.

But within the last year I have had 2 friends that had over 800 Fico'...

1. The first doesn't really use credit very often, has no debt, no loans but has nice credit cards with major banks and high CL's but doesn't apply for anything because they simply don't need more... however after some convincing I got this friend to pull credit from here and to the "SHOCK" a Collection account for $86 for a Gas bill from years ago, current score 720! Now even I would say well with a 720 you are not doing bad but for someone that had 800 something and you loose 80+ points over a $86 bill... pretty upsetting.

2. second just recently applied for Citi Forward and didn't get instant approval, thought that was odd... today Citi sent e-mail application denied because of collection... you should have seen the panic! so I got the free Experian report page up due to denial and 30 seonds later... boom it's a hospital bill from like 8 years ago and for some reason just finally posted last month! don't know the score loss on that one yet but considering was about to buy car... that has changed!!

I have heard that you would be surprised if you saw most celebrity or wealthy peoples credit because a lot are horrible (I know im being a little broad again!) but is that because they have the 1-3 cards they need (Amex Black or a debit card) so they just never even look or they have management companies that handle all the accounts etc. so don't worry about more credit.

Just a couple thoughts I was having tonight! Just Wondered if anyone else gets friends and family to pull credit once in a while with sharing your own experiences of bringing it back to good or mantaining good?!

[casmith1980]

My brother in law just mentioned tonight that he has "crap" credit. I'm gonna give it a few days and then pressure him into letting me help him I thoroughly enjoy helping people especially since my last two items aren't going anywhere lol

[CS800]

Personally i pull my EX report everyday, since im subscribed to Experian.

I check everything on it, inqs, CL and balance reporting .

Can never be too safe.

[casmith1980]

I think I might sign up for experians too. I like that it shows soft inquiries.

[nada9188]

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@casmith1980 wrote:
I think I might sign up for experians too. I like that it shows soft inquiries.

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From which site?

[casmith1980]

From experians. At least that's been my experience in the past

[Anonymous]

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@Creditaddict wrote:

I Just Wondered if anyone else gets friends and family to pull credit once in a while with sharing your own experiences of bringing it back to good or mantaining good?!

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Actually, the people, friends and family in my life all feel that ANYTHING to do with finances is MUCH too personal to discuss and they quickly change the subject when I try to bring up anything to do with credit management. That's one of the reasons I have been so awestruck with this website.  I've read on here of people OPENLY sharing their annual salary,  

I check our credit (using the CMS from USAA) once or twice a week, but then, even way back in the days of TRW, I used their monitoring service.  When my husband and I decided to go "all cash" all of that went by the wayside.  But now, we are back in the credit game and I am, once again, monitoring and managing just like I used to. 

[Creditaddict]

I also use the service through USAA with Experian... not my favorite based on updates and warnings and things being displayed in order etc. but I called to cancel and they offered it to be for like $5.50 or 5.95 I would have to look at my credit card, so I will keep it for that price!

Second I wanted to respond to this below:

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@Anonymous wrote:

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@Creditaddict wrote:

I Just Wondered if anyone else gets friends and family to pull credit once in a while with sharing your own experiences of bringing it back to good or mantaining good?!

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Actually, the people, friends and family in my life all feel that ANYTHING to do with finances is MUCH too personal to discuss and they quickly change the subject when I try to bring up anything to do with credit management. That's one of the reasons I have been so awestruck with this website.  I've read on here of people OPENLY sharing their annual salary,  

I check our credit (using the CMS from USAA) once or twice a week, but then, even way back in the days of TRW, I used their monitoring service.  When my husband and I decided to go "all cash" all of that went by the wayside.  But now, we are back in the credit game and I am, once again, monitoring and managing just like I used to. 

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I do feel it is something that a lot of people don't want to share and I feel a lot of times people don't want to share because they think they are doing worse then everyone else and they don't want friends and family to know how broke, how much credit card, how many collections, BK etc.  I think I'm even guilty of that in the past and really starting to roll it all out and while doing that then offer my help to friends to fix stuff they have going on in credit. I love fixing it!

[birjest]

I check my report EVERY DAY.  I was able to apply for cards and improve my scores to where I have met the requirements for the FHA loan.  I want to raise my scores to at lest 680 across the board in 3 weeks to get the pre-approval status. 

[mxp114]

All three show soft but only if you initiate a dispute to view the current copy via your subscription. For example, I subscribe to EQ credit watch monthly and whenever I want to see soft, I click the option to start a dispute and enter my email. I wish all three would show softs on the subscription based reports.