No matter what you've heard on credit report jingles and seen on commercials, there is only one place to get a completely free credit report. By law, at your request, the three credit reporting agencies, Equifax, Experian and Transunion, have to provide you with one free credit report every 12 months.
Credit Report
A credit report is a collection of your credit history.Each credit agency collects information about your credit history and it is outlined chronologically. The Fair Credit Reporting Act guarantees consumers a free copy of their credit report from each of the three credit reporting agencies. According to The Fair trade Commission (FTC,) AnnualCreditReport.com is the only centralized service for consumers to request free credit reports every 12 months. It is a quick and relatively simply process to obtained a free credit report from all three agencies at once.
How to get your Free Credit Report
Annualcredtreport.com was created by the three nationwide consumer credit reporting agencies; Equifax, Experian and TransUnion. You may request your free report in one of three ways:
Online: www.AnnualCreditReport.com and follow the steps there
Phone: 1-877-322-8228
Mail: Print and complete the Annual Credit Report Request form and mail it to :
Annual Credit Report Request Service,
P.O. Box 105281,
Atlanta, GA 30348-5281
Get the Right Credit Score
Federal law mandates credit bureaus give you a free credit report annually, at your request. The score is not included. As of 2010, cost for a credit report that includes a score can vary from $5 to $15. There are several types of scores available and creditors are free to use any score available to assess your credit worthiness.
FICO is the most widely used score and it ranges from 300 to 850. Your FICO score can vary across credit bureaus based on the number of credit bureaus to whom your creditors report.
While the FICO Score is the most widely used, other scores such as VantageScore, Equifax Score Power, Experian PLUS, and TransUnion TransRisk Credit are sometimes sold to consumers. If you want your FICO score or any other score, ask for it by name. If you have been denied credit, asked the creditor for the credit rating agency used and the score on which your credit worthiness is based.
Number of Free Credit Checks
If you haven't looked at your report in a while, obtaining all three at once will provide the most accurate picture of your credit situation. However, if you have been monitoring for a while, try staggering your requests, thereby ensuring you can look at one of your credit reports every four months.
Fix Errors on Your Credit Report
Review your credit report thoroughly. If you come across inaccurate information on your credit report, write a dispute letter to the credit agency. Include copies of all documentation that proves that there is an error. By law, the agency has to respond within 30 days. Your credit report and your credit score can cost you money or save you money. It is your responsibility to monitor changes and ensure accuracy.
0 comments:
Post a Comment