Before you even apply for a card, you should get a copy of all three of your credit reports as well as one copy of your credit score. This will help steer you in the right direction and give you a much better idea of the cards available to someone with your credit track record (that is, totally unblemished, of course). Collecting your credit reports should be an annual ritual (just like going to the dentist but less painful, we hope), and be sure to report any erroneous information to the bureaus.

Get Your Credit Report. Since 2005, consumers have had the right by law to get a free annual credit report from the credit reporting bureaus. But these bureaus don't like giving away this information for free. Instead, they often try to get you to sign up for their services, such as credit monitoring, in the process. Don’t be fooled by catchy jingles advertising “free credit reports"—these so-called free reports require you to sign up for a 7-day trial of their credit reporting service, which costs $14.95 per month.

While there are other websites that may promise to provide your credit report, the official website (supported by the free credit report law) is AnnualCreditReport.com. There are actually three different credit bureaus: Equifax, Experian, and TransUnion. Each bureau will provide a credit report to you, so go ahead and get all of them.

Get Your Credit Score. Another confusing aspect of the whole “free credit report” thing is that a credit report is not the same thing as a credit score. Your credit report includes a lot of significant information that defines your credit score. LearnVest recommends one particular site called Credit Karma for checking your credit score. We do this because it’s the only place we’ve found where you can check your score for free. LearnVest is always trying to scout out ways for you to save money without sacrificing quality, and this is a good one. All other sites and services we looked at attempt to get you to pay for score monitoring or charge you every time you want to look at your credit score.

Check Your Report. Now that you have your reports, it’s time to sit down, bust out the magnifying glass, and review each one carefully. A 2004 study found that 25% of all credit reports had some mistakes, so we’re not just being a goody-two-shoes here. Chances are, you might find an error on your report, and that can cost you. If you see anything fishy, you can dispute it online or call the credit-reporting bureau right away. Don’t call the credit data aggregator—remember, they handle your score, not your record. Be persistent, follow up your complaint and keep track of all communications you have made. 

Staring down your credit report can be scary, but living in oblivion is simply not an option.