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What is an annual credit report and how does it affect your credit card application status and financial standing on the whole? In fact, your financial standing is reflected in the report and the report then is used by lending companies when you request credit, by your potential employer and lots of various financial and insurance companies when they want to make a deal with you.

Thus, your credit report is almost the major driving force for your financial career, and, which is no less important, for your credit scores. When applying for a new credit card, you are almost always certain to ask for your credit report as it shows you the scores and gives you the idea whether or not you'll be approved for the card.

A credit report could be quite a necessary thing in your everyday financial activity but in fact you can see it with your eyes free of charge only once a year. If you want more, be ready to fork up.

A free annual credit report is requested by lots of people daily and the main reason for doing that is to be aware of credit card approval chances. It is not difficult to assume that if a customer is planning on several applications within the period of one year, more that a single request for credit report may come up to a small fortune. Anyway, the game is not worth the candle because all the same it is strongly discommended to apply for more than one plastic in a year.

However, there is another, much more sound reason to address your credit bureau for the annual credit report, even if it is second this year already. It is the necessity to find why you have been denied credit without obvious premises for that. It would be weird to be rejected by a bank or credit company when you apply for a credit card perfectly well suiting your credit rating and the FICO scores.

It would be weird to be disapproved considering that you have always made payments on time and have been a favorite customer to lenders. However, you are not protected from such thing and the only explanation for the vexing denial is to be found in the credit report. Do not spare money and get the report as it may prove you are a victim of ID theft and credit card fraud.

Your credit report will reveal all the unauthorized transaction made on your credit card. You may have never purchased such a thing or service and so, you did not pay the bill which might be numerous. In these circumstances, a one-time charge for your credit report seems to be a trifle, as compared to how much you could lose not knowing about the fraudulent use of your credit card.

Not only will your account will be damaged but your credit rating and reputation will also be hurt. And they are much more difficult to rehabilitate.

So, do you still think that another credit report is not worth your money? Just learn about the countless scams and credit card fraudsters looking for every possible chance to lay hands on your credit card or number and that little piece of paper will become your precious.