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According to a survey by Bankrate, only 44% of Americans regularly check their credit scores. While the fear of low scores is often the deterrent, monitoring your credit score is an important step in understanding financial health and can also save one big headaches down the line.

The good news is that there are now ways for consumers to regularly monitor their credit score without cost. These programs can be a game-changer for those monitoring their credit. Regularly checking one's credit score can be a great way to stay on top of financial health and even prevent identity theft.

Here are some of the benefits of free yearly credit score checks:

1. Helps build and maintain good credit
A good credit score can be beneficial for many reasons such as helping one secure a loan for a house or car, or get a credit line for a business. Monitoring one’s credit score is a great way to see where they stand in terms of their creditworthiness and make any necessary adjustments as needed.

2. Allows for timely detection of any fraudulent activity
Over 13 million Americans fall victim to identity theft each year, and one of the best ways to detect unauthorized activity is by staying up to date with your credit score. Checking a credit score can alert one to any suspicious activity, giving one a chance to respond and rectify any potential damage to their credit score.

3. Establishes financial literacy for future endeavors
Checking one’s credit score regularly is a great way to learn and understand the ins and outs of credit and how it influences one’s financial standing. Understanding one’s credit history and how it contributes to their overall financial health can be a great way to be better informed and develop a better financial plan.

With the many benefits of free yearly credit score checks, it is important to make the most of them. Taking advantage of these free services can help one’s peace of mind and keep their financial health in check while also protecting them from possible identity theft.