Credit Loan

Free Credit Report

Your credit report is the collection of details related to your credit history. It is the summary of all the records and files being maintained as part of your credit history. The credit report has gained a lot of importance over the past four five years, with almost everybody availing one or more kinds of loans and credit. On the other hand, the widespread use of credit tools like cards has also increased the incidence of credit card misuse, identity theft and misappropriation of funds.

It is because of this reason that the government has made it mandatory for credit report companies to issue a free credit report annually, so that consumers can regularly keep monitoring their credit file and check for any suspicious activity.

The Three Main Credit Report Bureaus in The Country:

Equifax, TransUnion and Experian furnish the information for these free credit reports which can be availed by all of us. In order to get your free credit report online, you will have to log on to the web site annualcreditreport.com. It is very important that you check and recheck the web address before logging on, because according to reports last received, there are almost two hundred fraud web sites posing as this web site from where you can get your authorized free credit report. While many of these web sites will charge you money instead of giving you your free credit report, there are others which are more dangerous.

Many of these web sites will use your personal information to steal your identity and then cheat you. In order to avoid typos and other errors while logging on to this web site, it is suggested that you get your free credit report by linking to the site through the FTC.

Once you have logged on to the correct web site, you will be required to divulge some personal financial information for identity verification, and once this is done, your free credit report will be made available to you on line. While this is the process of getting your free credit report on line, you can also get your free credit report by mail within 15 days of making a telephonic or written request.

Once you get your free credit report, make sure that you check it thoroughly for any mistakes or lapses. Start by checking your identity, making sure that your name, address, social security number and date of birth etcetera are listed accurately. Next, check your credit summary properly to see whether all your account details and your credit amount and history are accurate or not. Also check the enquiry section to see which companies have accessed your report.

In case there is a name that you have not heard of before, or a company with which you have no relation whatsoever has checked your credit report, then this might be a sign pointing towards identity theft and fraud and it is important that you follow upon these leads. Your free credit report will also give you details of any court judgments and liens against you. In case there are any discrepancies in your free credit report, then make sure that you contact the credit bureau immediately and get it rectified.

You credit report is an important instrument that is checked when you get a new job, a new house or a loan, as well as determining a number of other financial variables in your life. Therefore, it is important that you use the free credit report facility to keep your credit report error free and as good looking as possible.