Protect yourself by checking your credit score at least once a year.

Yes, It’s is real. Check out the headlines. The big banks are in trouble. They’re cutting back on credit and loans. That makes it even more important to make sure your credit score is exactly what it should be. The banks and finance companies are getting very careful. They will not lend if they think the risks are too high.

You have the right to see your credit report. It is absolutely free. Click on one of the banners and answer a few questions so the company can be certain of your identity. By return, you get a copy of your credit history.

Go through it line by line. It only takes one mistake showing an instalment unpaid, and your score could be damaged.

If you find something wrong, the company can help you to have it corrected. Once the repair is made, you will find the credit doors are open again and the interest rates will be reasonable.

Don’t sit there passively. Take control of your financial affairs and protect yourself. If you don’t, this credit crunch will be harder on you than it need be.