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It's Easy To Get Free Credit Report |
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Now you can get a free credit report each year. So, you must know how to get a free credit
report and how to avoid being scammed by companies that gives you a credit report copy but then charge you a fee for credit monitoring. Illinois residents as well as those in other Midwest states are already getting advantage of a new law that allows you to get a free credit report each year. According to the new legislation each of the three major credit reporting bureaus (Experian, Equifax, and TransUnion) must provide you a free credit report each year. The law is due to phase in over a period of nine months. Last December, residents in the western U.S. were able to get their free credit report. Starting March 1, Midwesterners can apply for a free credit report from each of the credit reporting bureaus. If you go online to the credit reporting bureaus own websites, you'll have to pony up to get the same information. The best way to go is to request your free credit report online. Websites will ask you to select your state and then fill out a simple form. You will need to provide your social security number and address. Your credit report will be sent to you after your identity is verified. If you can't remember the website name, you can always go to the federal trade commission's website and read about the new fact act law. The new law only requires credit-reporting bureaus to give you a free credit report, but not your credit score. You'll have to pay separately for that. Don't be fooled by other websites that claim to give you your free credit report. What typically happens is that the credit report might be free, but to get it, you'll have to hand over your credit card number and will be charged a monthly fee for credit monitoring. Remember, if a website is asking for a credit card number, it's not free no matter what they say. You can order free credit report from all three-credit agencies at the same time, or can order each one separately if you'd like to spread out your credit checks throughout the year. Those with a long-term outlook may want to pull all three reports at once this first year of FACTA. Then you'll have a baseline for future checks. If you are refinancing or undergoing some other major financial event, your lender will most likely check all three files, so you should, too. No matter when you decide to get your free credit report, it is important that you do check all three credit reports eventually since, as stated above, each may contain different information. When you get your free credit report check it carefully. If you find incorrect information notify the credit bureau that you dispute the accuracy of certain information, make sure you explain thoroughly. The credit bureau will reinvestigate and modify or remove inaccurate data. If the reinvestigation does not resolve the disputed information to your satisfaction you have the right to seek legal action and/or enter a statement of 100 words or less explaining why you think the record is inaccurate. The credit bureau must include this statement or a coded version of it with any reports it issues about you. Checking your free credit report has always been a good idea if you plan to apply for a loan soon or want to check out your creditworthiness, but it's also important to check regularly to make sure there aren't any errors and to protect against identity theft. You can order free credit report from any one of the three on one visit, a second report on a subsequent visit and the remaining report on a third visit. Stretching out the right to a free annual credit report over a period of months might be useful for anyone who anticipates considerable financial events during the year ahead. |
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