YOUR MONEY | Keep your credit record clean – 5 things you need to know

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(Photo: Gallo Images/Getty Images)
(Photo: Gallo Images/Getty Images)

You might not be aware that your credit record contains incorrect information – until you apply for credit, such as a home or personal loan, and get turned down or get hit with a very high interest rate. If this happens, it could mean that you’ve fallen victim to identity theft or that the credit bureau has made a mistake.

But it can end up costing you dearly – especially if prospective employers or landlords check your record and decide you’re not an ideal candidate if it indicates that your finances aren’t well    managed. Here are five things on your credit record you should look out for – and rectify if there are errors.

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