Even if you have a couple of loans and a pocketful of credit cards it would be more the better to check regularly check your Free Credit Report and if possible quarterly. By checking you’d be able to know if the credit reports are accurate and updated. If there’s an open account that you believe is not yours you would be able to report it immediately as it would be someone else using your name. Having accurate scores mean a lot when you want to refinance later and get lower interest rates on a new loan just in case you want to get rid of outstanding credit and the different type of loans you have.