Use Free Credit Monitoring to Increase Your Credit Score
Becoming financially empowered and building financial freedom is not about working harder or having to spend hours and hours looking at spreadsheets, it is about using tools and systems to your advantage so you can slay your finances with very little effort. Your money systems give you confidence and free up your emotional bandwidth. When you are not stressed and anxious about your money, you can focus on the things that matter most: family, friends, health, fun, travel, impact, etc. You can also be rest assured that you are building money to fund your dreams, not just surviving.
All of this money work and this entire financial freedom journey is not about the money, it is about the freedom and choice that money buys you.
So here is another tool to use to your advantage, so you can kick back and focus on living:
Free credit monitoring from your credit card.
My Southwest Credit Card added this as a free service a few years ago and it is magical. Every month I get an email about my credit score. The email will tell me how many points my FICO score has gone up or down. I also get email alerts if there are any major changes to my activity that are impacting my score.
When you login to your credit card, there is a tab or link to click that will say something along the lines of credit journey.
The credit score number is obviously the most important but I also have the option to see my score history. This is a cool link to explore, especially if you have seen a major trend up or down in the recent months. The credit score history will not tell why the points have changed but by using this credit score breakdown and reviewing any changes to your credit usage, you might be able to figure it out.
There are also tips on how to increase your credit score, a chart on your credit usage (want to keep at 30% or less), other factors that are having an impact and a list of all your credit accounts.
I also get alerts about dark web activity so I know if an account username or password has been hacked and to change immediately.
If your credit card does not offer this service, here is an article with a few options. This is not an exhaustive list but a decent place to start.
Since financial empowerment is all about using systems to your advantage so you can put your financial freedom on autopilot, I only go into this feature and explore when I get an email alert that is concerning or seems like it needs my attention or action.
Thank you free credit score monitoring for doing the work for me, through a service I already have and for free! Now back to adventure, fun and family!
Disclaimer: I am an educator, not your personal financial advisor. Information in this newsletter is intended for educational purposes only. Please make sure to do your own research before moving forward with any actions discussed in this newsletter.
Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won’t experience any loss when investing. Past performance does not guarantee future performance. Always remember to make smart decisions and do your own research!
