A good credit history is the gatekeeper to financial opportunity. Here are 3 expert-recommended ways to protect yours.

• Your credit history can determine whether you're able to get a loan on a house or car, rent an apartment, and may even affect your job opportunities.
• Through April 2021, you can request a free credit report once a week, which serves as your financial reference sheet for lenders.
• Review it three to six months before any large purchase and to make sure there's no suspicious activity on any of your accounts.
• In addition, always pay your bills on time, or contact your lenders in advance if you can't.

I've spent more than 20 years teaching people about the value of a strong credit history. While the world looks much different today against the backdrop of COVID-19, I believe one truth from pre-pandemic America remains: A good credit history is a gatekeeper to financial opportunity.

From buying a home to purchasing a new family car and much more, the types of purchases that create meaningful economic impact are the same things many of us, including millennials, want in life. Purchases like these will require sound credit, which is why protecting your credit history in 2021 and beyond is essential.

Here are three ways you can protect your credit history for a financially healthy new year:

1. Don't be afraid of your credit report

A common myth is that checking your credit report will hurt your credit score. It's simply not true. Your credit report serves as your financial references. Being familiar with the information in it enables you to protect your financial health.

If you're planning to make a purchase in 2021 that will require credit, start by looking at your credit report. You can get a free credit report once a week through April 2021 at AnnualCreditReport.com. At a minimum, I recommend checking your credit report three to six months in advance of any large purchase. Give yourself time to ensure your accounts are in good standing and that your credit history is ready to work for you when you need it.

2. Pay on time, every time

Experian's latest State of Credit report shows millennials had fewer missed payments in 2020 than they did in 2019. This is good news, and I hope the trend continues. Nothing will damage your credit history faster than missed payments.

To maintain a positive credit history in 2021, pay on time to the best of your ability and make a plan to catch up on any missed payments. Enrolling in autopay can be a helpful way to stay on a payment schedule that works for you.

If you might miss a payment, contact your lenders as soon as possible. Many lenders have special accommodations in place to protect your financial health during the COVID-19 pandemic.

3. Protect your financial health from fraudsters

With people spending more time at home and online, the COVID-19 pandemic has contributed to an increase in fraudulent activity that's likely to continue into 2021. To help combat this, I recommend using a credit card to make your online purchases. Doing so can help protect you against losses tied to fraudulent charges.

Another benefit to checking your credit report regularly is that it can help you spot potentially fraudulent activity on your credit accounts. If you're not already, using a credit-monitoring service can alert you to suspicious or fraudulent activity in real time to protect your credit standing and your financial health in 2021.

Rod Griffin is the senior director of consumer education and advocacy at Experian and a member of BI's Money Council.