How to Get Your Free Credit Report
Getting a hold of your credit report is free and easy . There are three main credit bureaus that will issue different credit reports. Since the bureaus rarely communicate with each other there is often different information on each report.
The major CRAs (credit reporting agencies) consist of: Equifax, TranUinon and Experian. Every year upon your request each one will give you a co[y of your credit report free of charge.
Because of the lack of communication between the three CRAs there is often old information or errors on one or more of the reports. If this occurs simply get in touch with the credit bureau and provide them with the correct info. Correcting inaccurate information on your credit report is very important as it directly affects your credit rating.
Please note that you have to personally request your free reports in one of three ways: 1) call 1-877-322-8228 2) go online to annual credit report .com (this a government regulated portal which enables you to retrieve your credit reports online) 3) request a Annual Credit Report Request brochure by contacting the FTC (federal trade commission), fill out the back and mail it.
Your credit report will have the following details: Your personal information (such as address and employer), active and closed accounts, any credit products you may have (including overdraft etc.) and the current balance on each, a review of your payment history and any missed payments or collections.
There is common misconception that when you receive your report you will also get your credit score or FICO rating. This is not the case. Your FICO score is based on the information on each report but is not attached.
You may order your credit report every year from each of the major CRAs. You may want to order them all at once to compare the information and ensure accuracy or order them throughout the year to be in the loop. Either way go through a centralized agency otherwise you may be charged.
More information is available through the credit consumer report website.
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