Free Yearly Credit Rating

A credit report is an official record of an individual's credit history. These reports include information on a person's mortgage loans, credit cards, automotive payments and student debt, as well as negative financial history such as foreclosures, bankruptcies and accounts in collections. The three major credit bureaus -- TransUnion, Experian and Equifax -- use the data on a person's credit report to determine her "credit rating," a three-digit number which helps lenders decide a person's creditworthiness. Federal law entitles all U.S. residents to an annual free copy of their credit reports from each of the three credit bureaus.

Order Online

One way for individuals to order their free yearly credit reports is to visit Annual Credit Report, the official credit report ordering website. On this website, individuals enter their home states, then fill in their personal information including their names, addresses and Social Security numbers, into the official order form. People may instantly view their credit reports from all three credit bureaus from the Annual Credit Report website.

Order by Telephone

Individuals who would prefer not to order online may order their credit reports by calling 1-877-322-8228, the official annual credit report order hotline. Persons calling the official hotline must provide detailed personal information, including their names, addresses and Social Security numbers. Individuals who order their free yearly credit reports by telephone will receive reports from all three credit bureaus within 15 days, according to the Federal Trade Commission.

Order by Mail

Consumers also have the option of ordering their free yearly credit reports by sending an official Annual Credit Report request form to the Annual Credit Report Request Service. Individuals must fill out the form completely, and will need access to personal information, including their Social Security numbers, dates of birth, addresses and full names. Similar to ordering by telephone, individuals who order their yearly credit reports by mail will receive their reports from all three credit bureaus within 15 days.

Considerations

Instead of ordering credit reports from all three bureaus at once, individuals can choose to order credit reports from just one or two agencies. The Federal Trade Commission says many individuals choose to stagger their credit report orders over a 12-month period, which allows them to get pictures of how their credit profiles change over time. Additionally, free yearly credit reports do not include information on individuals' credit ratings. People wishing to know their credit ratings must pay fees to order them from each of the three credit bureaus.