You can get an annual free credit report from any of the three
major credit bureaus. If you have ever had credit, then there is
a report on your borrowing and repaying at one of these bureaus
- maybe all three. The Fair Credit Reporting Act is a law saying
that every person is entitled to receive one annual free credit
report once every twelve months from the credit bureaus.
Annual credit reports are very important because they contain
all of the information about your credit history - not just for
the past year, but for at least 7 years. When you request an
annual free credit report, the credit bureau is not allowed to
charge you for the first report. However, if you request more
than one report, then you have to pay for the others.
There are many sites on the Internet that will charge you for a
credit report. Therefore it is important to know that you do not
have to pay for this service. By analyzing your annual free
credit report once a year, you will have a clear idea of what
your credit score is. Free annual credit reports will help you
determine where your focus for the next year should be if you
are looking to repair any bad credit items that appear on your
report.
If you have been denied credit and you think that it is
unreasonable, then it would be in your best interest to request
a free annual credit report. This is because with the amount of
scams that exist, someone could be using your name to receive
credit and then giving you a bad rating. If you are working on
repairing bad credit that you have, an annual free credit report
is enough to request. Credit scores do not raise overnight or
because you made one payment on time. It takes at least a year
to notice a marked increase, so you shouldn't pay for extra
reports.
When you receive your annual free credit report, you should
carefully read all sections. All aspects of the credit report
are included in computing a credit score, so you should pay
attention to all of them. Check your address to make sure it is
correct and compare the list of accounts to ensure that you have
not missed any payments. The annual free credit report also
contains a list of people or businesses that have requested
credit information on you recently. You should also check this
to see that all of these names are familiar to you.
You don't need to pay, you can get an annual free credit report.
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Get Your Annual Free Credit Report - Why Pay For It?
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