hotknoieu: Guaranteed Ways to Obtain a Free Credit Report Once a Year

Friday, November 26, 2010

Guaranteed Ways to Obtain a Free Credit Report Once a Year

Nov 25, 2010 Asa Ghaffar

Get Your Free Credit Report Once a Year - Image by hefty191

Every U.S. citizen has a legal entitlement to a free credit report once a year from Experian, Equifax and TransUnion. Whether you decide to get them all at once or request one every 4-months, the choice is entirely yours. Just remember that each credit reference agency holds totally unique information.

Never work on the assumption that correcting the information held by Experian will resolve any issues with the data held by TransUnion or Equifax because it won't. After you've got your credit reports for free, carefully check what information is held about you.

Why we Need a Free Credit Report Once a Year from Experian, Equifax & TransUnion

Your free instant credit report enables you to identify any fraudulent attempts to obtain credit. If you don't recognize the source of a credit check, you're able to make further enquiries. It may be that your identification has got into the wrong hands and urgent action needs to be taken. More likely, the lender or issuer uses a different name or third party to credit check you.

A free credit history report also enables you to see any credit report errors. Many American citizens are surprised at how much inaccurate data's held about them. You're legally entitled to get these errors corrected personally or with the help of a credit repair attorney. For example, if you've filed for chapter 7 bankruptcy, you'll want to know why a credit agreement that was included in your bankruptcy agreement continues to show as active.

Before you apply for credit, you're able to correct any inaccuracies and maximize your chances of a successful mortgage, credit card or loan application. Lenders can't tell whether you have bad credit or bad data; the onus is firmly on you to remedy any mistakes. Always allow sufficient time for credit reference agencies to correct any issues as this won't happen overnight.

How to Obtain Your Totally Free Credit Report Online, by Post or by Phone

The Federal Trade Commission (FTC) has only authorized one company to provide your completely free credit report and that is AnnualCreditReport.com. be weary of any company who claims that they are also authorized by the FTC because they won't be. Depending upon your personal preference, you can order your free credit report once a year in one of three ways:

Visit AnnualCreditReport.com and make your request online.
Telephone (877) 322-8228.
There's a form at the back of the annual credit report request brochure. Just complete and send it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Obtaining Your Free Instant Credit Report & Credit Score Online

Most people are dismayed to discover that, although they're entitled a free credit report once a year, they cannot see their credit score for free. The Fair Credit Reporting Act makes no provision for providing you with a free credit score which can be a potential issue if you're planning to apply for credit in the near future.

However, once you've got your free credit history report, there's nothing to stop you from signing-up to a 7-day trial offer. You can then see your credit score and cancel the trial before it comes to an end. That way your credit card won't be billed and you've got the information you need.

Sources

"Your access to free credit reports." Federal Trade Commission (FTC).