Credit Report Checklist: 3 Things to Review at the Start of Every Month
Your credit report isn’t something you check once a year and forget about. If you’re trying to improve, protect, or build your credit, monthly check-ins are one of the smartest habits you can develop.
Think of it like checking your bank balance: just with long-term impact.
Here’s your simple 3-step checklist to review at the start of every month to make sure your credit report is working for you, not against you.
1. New Accounts, Inquiries, or Changes You Didn’t Authorize
The first thing to check each month is whether anything new has shown up on your report, especially if you didn’t expect it.
Look for:
- New credit cards or loans you didn’t open
- Hard inquiries you didn’t authorize
- Changes to existing accounts that don’t make sense
- Sudden drops in your score with no clear reason
Why this matters:
Fraud and identity theft can start small. A single unauthorized inquiry can be a red flag. And even legit changes (like balance increases or new credit lines) need to be tracked closely so you stay in control.
What to do:
If you see something suspicious, freeze your credit and file a dispute immediately.
2. Late Payments or Negative Marks
Next, review the payment history section of your report. Even one 30-day late payment can tank your score, and if it’s reported incorrectly, it’s worth challenging.
Look for:
- Any accounts marked as “late,” “delinquent,” or “in collections”
- Payments marked late that you know were on time
- Negative marks that are still showing up long after they should have dropped off
Why this matters:
Payment history makes up 35% of your FICO score, the largest single factor. Keeping this section accurate and clean is key to long-term credit health.
What to do:
Dispute anything that’s inaccurate or outdated. If a legit late payment shows up, work to bring the account current or ask for a goodwill removal (especially if you’re usually on time).
3. Credit Utilization and Balances
Your credit utilization (how much of your available credit you’re using) is the second most important factor in your score.
Look for:
- Any credit cards that are above 30% utilization
- Sudden jumps in balances (even if you plan to pay them off)
- Authorized user accounts that are hurting your score
- Old accounts you forgot you had that are suddenly active
Why this matters:
Even if you’re paying on time, high balances can drag your score down fast. Credit scoring models favor borrowers who use credit sparingly and pay consistently.
What to do:
Pay balances down below 30%, or ideally under 10%, for a score boost. If an authorized user account is hurting you, consider removing yourself.
Bonus Tip: Use a Monitoring Tool That Shows All Three Bureaus
Most free apps only show one bureau’s report. But lenders can check any of the three: Equifax, Experian, or TransUnion. To stay truly informed, use a monitoring tool that gives you access to all three reports each month.
Final Thought
Your credit score doesn’t change in one big move. It changes through small, consistent actions over time.
This 3-point checklist helps you stay alert, spot problems early, and build real momentum with your credit.
At CreditNerds.com, we specialize in helping you fix what’s hurting your score. And we don’t charge a dime unless we get results. If you want real help without the hype, we’re here for it. Schedule your free consultation now.
