How to Get a Free Credit Rating

Your credit rating is important as it is used by lenders to assess your suitability for credit and how much you can have. The better your credit rating, the more likely you are to be approved for credit facilities. Your credit rating also affects the amount of money that credit card companies facilitate on your cards. A poor credit rating can mean loans are more expensive--or, at worst, can mean refusal of credit when you need it most.

All US citizens are entitled to obtain a free copy of their credit rating report every year as mandated in 2003 under the Fair and Accurate Credit Transaction Act. There are three official credit reference agencies in the U.S: Equifax, Experian and TransUnion. Together they sponsor the official website where your free annual credit report can be obtained.

Instructions

1

Apply for your credit report online. This is the best and quickest way. You can view your report online or you can have it mailed to you. Click on the link in the resources section; this will take you directly to the correct page.

2

From the drop-down box, select the state in which you currently reside. Click "Request Report" and a new window will open. Complete the form accurately as you will not be able to view your report unless the details are verified. You will need to supply a previous address if you have not lived at your current address for more than two years.

3

Click "Continue" and follow the instructions. Once you have completed the forms and the details have been verified, you will be directed as to how to access your report. If you have chosen to have it mailed to you, you will receive it in a few days.

You are entitled to a credit report from each agency once a year.