How often should you review your credit report for accuracy and why?

• A. Quarterly.
• B. Monthly.
• C. At least once a year; to correct errors and detect fraud.
• D. Never.

Answer: (C)

Regular review of your credit report helps ensure the information lenders rely on is accurate and lets you catch mistakes or signs of identity theft before they hurt your credit score.

The best choice says to review at least once a year to correct errors and detect fraud. You’re entitled to a free copy from each major credit bureau once every 12 months, so taking advantage of that is a smart, low-effort baseline. Many people stagger the bureaus so they get a fresh look on a rotating schedule (for example, one bureau every four months) to maintain ongoing visibility. If you suspect fraud or are actively monitoring for identity theft, you can and should review more often or use a credit-monitoring service for extra protection.

When you review, look for incorrect personal information, accounts you don’t recognize, late payments you didn’t miss, or accounts that are reporting inaccurately. If you find something wrong, start a dispute with the credit bureau and contact the lender to supply supporting documents. The bureau typically investigates within about 30 days, and once the issue is resolved, your report (and score) can reflect the correction. If you’re worried about identity theft, consider placing a fraud alert or a freeze on your credit to prevent new accounts from being opened in your name.

Keeping an eye on your credit report is a practical, proactive step to protect your financial health.