Do you want to view your credit report? You can, for free
thanks to congress. In 2003 congress passed a law that stated the
each of the three major credit bureaus had to provide an annual
credit report to any consumer in their records. In order to get
your free credit report each year you should go to the website
www.annualcreditreport.com. This is a gateway that allows you to
get your free report, but be careful, you will be offered
different additional information for a fee. Watch what button you
push and make sure you don't end up paying for something you don't
want or need.
These credit reports do not include your credit score but all
three do offer your credit score for a small additional cost.
Usually this goes for between $6 and $15 dollars depending on the
Credit Bureau. If you aren't planning on any immediate credit
purchases, I'm not sure if you need your credit score or if it's
worth the cost.
The basic scenario allows you to view credit report on line
from Experian, TransUnion, and Equafax. You will need to go to
each one individually and you can print it out and I highly
suggest you do to keep for your records. It also makes it easy to
flag any inaccurate information and gives you a record to store
for future reference. Most reports can be long, depending on the
number of transactions and how much information is recorded.
Each credit report may look different and even have different
information about your credit history. Each credit bureau has it's
own format and reporting companies. Not all credit transactions
are reported to all three, so each one can have more or less
information. One important piece of information is how to file a
dispute on any information you feel is wrong or inaccurate. Each
credit bureau has it's requirements and you must follow them
exactly to get any results from disputes. All allow you to file
disputes on line so that does speed up the process.
Once you get your chance to view credit report, you should
check each entry to make sure it is accurate and up to date. Check
the personal information in regard to address and any other data.
Go through each credit transaction and make sure the amounts,
payment records, and balances are accurate. Also watch out for
listings that may apply to someone else with the same name, it
happens. If there is any information that is not current or
correct, file a dispute according the instructions provided by
each credit bureau.
Each credit bureau also keeps track of who has requested a
credit report on you. Any access should be authorized by you and
if you find one that wasn't, it would be a good idea to find out
why. The number and type of credit report requests can impact your
overall credit score so you want to keep an eye on any inquires.
And don't just file a dispute and forget it. Make sure that you
follow up to see if there has been a correction. Keep good records
of all disputes and if you do find inaccurate information on one
credit bureau's report, check the others for the same wrong
information. You have to be proactive on any disputes since the
burden is on you to make sure all information is correct and up to
date.
You should take advantage every year of this free service and
view credit reports to catch any problems even if you are not
planning on a credit purchase. Your credit report can impact areas
like job applications, deposits required by utilities, and even
the cost of your car, home, or life insurance. ur credit report may have an impact on many different areas
and it never hurts to keep an eye on all three credit bureaus
information about you and your credit history. Basic information
like your current address, creditors, and current status on any
credit transactions can be a factor in how much your insurance
costs, whether some companies will require a deposit, or be
considered in any new job application.
You are also allowed to view your credit report if you have
been turned down or refused credit by any company based on any
information found on your credit report. Of course the best time
to view your credit report is before you apply for credit so you
can make sure that all the information is accurate and current.
If you would like to learn more about each of the three major
credit bureau credit reports, click on one of the links below that
detail each company and their credit reports:
Experian
Credit Report
