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Hello, <<First Name>>:

Tax season is winding down, but don't worry - your monthly adult annoyance will never wind down. This month's task: 
 
Tend to Your Credit

 
...In less time than a haircut from Edward. 

Credit is important to just about everyone. And it isn't just about getting low rates on loans - credit scores can factor in getting the best possible rewards credit cards, factor in employment decisions, housing decisions, car insurance rates and even utilities

Translation: Do not ignore this task just because you think you have a good credit score or good credit habits.

Sure, always making on-time payments, avoiding carrying credit card balances and keeping a reasonable debt-to-income ratio will always provide a strong base. But being on your best financial behavior is not enough to ensure good credit. There is some annual maintenance involved. Here are the two (*free*) steps you need to take: 

1) Get your free credit report from each of the three national bureaus. It's required by law to have once-yearly free access to your credit reports from Equifax, Experian and Transunion, respectively. Just go to annualcreditreport.com and follow the steps. Make sure everything looks accurate on each report and be on the lookout for anything fraudulent. If you find something that doesn't look right, contact the credit bureau whose report contains the irregularity and dispute it. 

2) Freeze your credit. It's free and surprisingly quick. I wrote a post on this very task with links for each bureau. If you're going to apply for a new loan or credit card in the immediate future, then go ahead and wait until after. More on freezing your credit:
  • This makes sense for everyone to do. Identity theft and financial fraud is a huge problem. Don't make it easier for the bad guys. 
  • You can "unfreeze" your credit temporarily when you need to grant access to various companies as you are applying for credit/housing/jobs etc.
  • You can freeze a child's credit, too, in an effort to prevent child identity theft. If a bureau has no record of your child, that's a great sign, but you can still create one and then freeze it. More on child identity theft here. It'd be a real bummer to turn 16 and be turned down for a job or auto insurance because of fraudulent activity. 
That's it! It's just a couple of steps to make sure your credit is in good order. 

Bonus: Here's the link to permanently opt-out of those annoying credit card and insurance offers you get in the mail.  
 

Mark your calendars...
 
Next month's task: Investing Spring Cleaning
 
And don't forget...

  • Want to bust out some annoying adult tasks faster than once a month? Try tapping on the cheat sheet to the right. 
  • And if you know someone else who needs to be annoyed, sign them up or send them for some Annoying Adult Tasks here. 
 
If you have questions about a certain topic, or would like to chat about anything else, please don't hesitate to reach out
Copyright © 2019 Alder Cove Capital, LLC, All rights reserved.


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