How to Get Your Free Credit Report
There are three main credit bureaus that deal with your credit report and each one collects its own information and issues its own reports. You should collect all three credit reports and compare them for any errors.
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.
It is important to review your reports carefully. If you find any outdated or inaccurate information be sure to contact the CRA and inform them of the error. Errors on your credit report can be a serious matter as they may affect your credit score, making it difficult to qualify for loans etc.
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.
Note: Your credit is based on your credit report but is not listed on the report itself. Your FICO rating is designed for credit lenders and is simple way to summarize all the information contained in the report into a numerical representation of your payment history.
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.
Jacob Damier has been assisting people with credit for over a decade and is a contributing consultant for the CCRand works closely with Veridian credit Union and Evergreen Credit. For more information and resources regarding credit feel free to visit our site.
