Credit scores influence your ability to obtain loans and open new lines of credit. Low credit scores will mean higher interest rates and fees for money you borrow, and can influence your rates for other expenses, such as insurance. Existing lines of credit will close when scores drop. Being aware of what's on your credit reports will help you manage your credit. If credit reports are periodically reviewed, it gives you the opportunity to correct inaccurate information, seek to remove outdated negative items and focus on areas to repair. To do this you must obtain reliable credit reports.
Free Report
You have three credit reports to consider, each prepared by a different national consumer credit reporting agency. The three agencies are Equifax, Experian and TransUnion. Each agency has its own website where consumers can go to order a copy of a credit report. Often there are fees required for ordering, yet the credit reporting companies are required by law to give consumers one free report every 12 months. The easiest way to do this is to go directly to the Annual Credit Report website. There you can order one or all three reports for free.
Ordering Free Reports
The Annual Credit Report website is the official site to order a free credit report and is sponsored by Equifax, Experian and TransUnion. There are other websites and companies that offer to deliver a free credit report, yet typically those are companies attempting to market their own service or product and some may not be reliable. If you are uncomfortable ordering online, where you need to input sensitive data, such as your social security number, there is an option to print out an order form. After completing the form it is then mailed to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. Another option is calling Annual Credit Report at 1-877-322-8228.
Ordering for a Fee
If you aren't entitled to a free credit report, because you obtained one during the last 12 months, you can go directly to the Equifax, Experian or TransUnion website and order a credit report for a fee. Before ordering, make sure you understand what you are ordering, as each agencies offer a variety of services and instead of ordering one report you may accidentally sign up for one of their other products, such as a credit monitoring service which may include a copy of your credit report.
0 comments:
Post a Comment