Wednesday, April 21, 2010

Why and How to Get Your Credit Report and FICO Score Regularly

Your credit report and credit score have a big impact on your life. It affects your ability to get a loan and the rates you'll pay when you get one. Looking at your FICO score and report regularly ensures that there are no mistakes and allows you to identify potential fraud. Catching these early will allow you to correct the problem quickly. Additionally, knowing your credit score can help you determine whether it's time to apply for a loan--if your score is close to the next tier of rates, it's best to wait until your score improves.

Instructions

    1

    Visit AnnualCreditReport.com. This is the official website to get a free copy of your credit report. Other sites require you to join a credit monitoring program in order to obtain your report and scores. While this site does not provide a free credit score, it will allow you to see your reports from the three credit bureaus.

    2

    Select your state from the drop-down box in the middle of the page and click the "Request Report" button.

    3

    Enter your personal information into the fields. Click the "Continue" button.

    4

    Select the credit bureau or bureaus whose reports you want to see. Click "Next" and "Next" again on the next page. This will take you to the website of one of the credit bureaus.

    5

    Confirm your identity with the credit bureau. The process varies slightly at each site, but you'll be asked questions to verify your identity, such as identifying past addresses.

    6

    View your credit report. After you've confirmed your identity, you will see a link to your credit report.

    7

    Pay to receive your score, if you desire. Your free credit report only shows the information on your report. You will have to pay a small fee if you want to know your actual score.

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