Difference between revisions of "Get Your Credit Report for Free"
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| − | + | Your credit report include information on your address, the number of credit accounts you have, whether you pay your bills on time, and whether you have been sued or filed from bankruptcy. Lenders use it when determining whether to lend to you and at what rates. The United States Federal Trade Commission (FTC) recommends that you check your credit report at least once a year to prevent identity theft and to make sure your information is being accurately reported.<ref name="rf1">https://www.consumer.ftc.gov/articles/0155-free-credit-reports</ref> Under the Fair Credit Reporting Act (FCRA), you are legally entitled to at least one report every 12 months from each of the three major credit bureaus, and the process to obtain them – whether online or by mail – is quick and easy. | |
[[Category:Credit and Debt]] | [[Category:Credit and Debt]] | ||
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#*Current address | #*Current address | ||
#*Previous address if you have not lived at your current address for 2 years | #*Previous address if you have not lived at your current address for 2 years | ||
| − | #Decide which credit reports to order. The three reporting companies get their information from different places and so may have slightly different information. They also present it in different ways. If you are about to seek credit for a large purchase like a car or house, it is a good idea to get all three reports to make sure your credit information is accurate. If you are not about to make a big purchase, it makes more sense to space out your requests so that you can keep track of your credit information over the course of the year.<ref>https://www.annualcreditreport.com/requestReport/requestForm.action</ref><Ref>http://askthemoneycoach.com/2010/12/what-are-the-differences-between-equifax-experian-and-transunion-credit-reports/</ref> | + | #Decide which credit reports to order. The three reporting companies get their information from different places and so may have slightly different information. They also present it in different ways. If you are about to seek credit for a large purchase like a car or house, it is a good idea to get all three reports to make sure your credit information is accurate. If you are not about to make a big purchase, it makes more sense to space out your requests so that you can keep track of your credit information over the course of the year.<ref name="rf2">https://www.annualcreditreport.com/requestReport/requestForm.action</ref><Ref>http://askthemoneycoach.com/2010/12/what-are-the-differences-between-equifax-experian-and-transunion-credit-reports/</ref> |
#*'''Equifax''' – Equifax conveniently groups accounts into “open” or “closed”, making it easy to review your current accounts. It also provides an 81-month credit history for each credit account, reflecting whether the account was paid or overdue in each of those months. For more on the Equifax report layout and codes used, see [http://creditengine.net/equifax_format.htm here]. | #*'''Equifax''' – Equifax conveniently groups accounts into “open” or “closed”, making it easy to review your current accounts. It also provides an 81-month credit history for each credit account, reflecting whether the account was paid or overdue in each of those months. For more on the Equifax report layout and codes used, see [http://creditengine.net/equifax_format.htm here]. | ||
#*'''Experian''' – The most helpful feature of Experian reports is that they tell you when an account or a negative report is scheduled to fall off your credit report. Experian also offers an 81-month payment history for each account. Experian is also the only company to report on-time rent payments, as opposed to just late ones. For more on the Experian report layout and codes used, see [http://creditengine.net/experian_format.htm here]. | #*'''Experian''' – The most helpful feature of Experian reports is that they tell you when an account or a negative report is scheduled to fall off your credit report. Experian also offers an 81-month payment history for each account. Experian is also the only company to report on-time rent payments, as opposed to just late ones. For more on the Experian report layout and codes used, see [http://creditengine.net/experian_format.htm here]. | ||
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#*Credit Inquiries – Hard inquiries occur when you apply for a loan and authorize a lender to ask for your report. These inquiries negatively impact your credit score if there are too many in a short period. Soft inquiries are when a creditor orders your report in order to send you a “pre-approved” offer. Soft inquiries do not impact your credit score. | #*Credit Inquiries – Hard inquiries occur when you apply for a loan and authorize a lender to ask for your report. These inquiries negatively impact your credit score if there are too many in a short period. Soft inquiries are when a creditor orders your report in order to send you a “pre-approved” offer. Soft inquiries do not impact your credit score. | ||
#*Public Record and Collection items – This includes bankruptcies, foreclosures, lawsuits, wage attachments, liens, judgments, and information on overdue debt from collection agencies. | #*Public Record and Collection items – This includes bankruptcies, foreclosures, lawsuits, wage attachments, liens, judgments, and information on overdue debt from collection agencies. | ||
| − | #Examine your report for signs of identity theft or credit fraud. The first thing to do with your credit report is to scroll through it to be sure there is no inaccurate information. This will help to protect your credit score and to prevent identity theft. Make sure you check:<ref>https://www.bankofamerica.com/credit-cards/education/how-to-read-a-credit-report.go</ref> | + | #Examine your report for signs of identity theft or credit fraud. The first thing to do with your credit report is to scroll through it to be sure there is no inaccurate information. This will help to protect your credit score and to prevent identity theft. Make sure you check:<ref name="rf3">https://www.bankofamerica.com/credit-cards/education/how-to-read-a-credit-report.go</ref> |
#*Name – There should be no names listed other than your own. | #*Name – There should be no names listed other than your own. | ||
#*Address – Be sure the only addresses listed are places you have lived. If another address appears, it may be a sign of identity theft. | #*Address – Be sure the only addresses listed are places you have lived. If another address appears, it may be a sign of identity theft. | ||
#*Credit Accounts – The report will list all your present and past credit accounts, along with information regarding whether payment has ever been late, and if so, how late. Make sure all accounts belong or belonged to you, and check to be sure any negative information is correct. | #*Credit Accounts – The report will list all your present and past credit accounts, along with information regarding whether payment has ever been late, and if so, how late. Make sure all accounts belong or belonged to you, and check to be sure any negative information is correct. | ||
#*Public Records Information – Check to see if your report lists any delinquent accounts, bankruptcies, foreclosures, lawsuits, wage attachments, liens, or judgments, be sure they are accurate. This sort or information can devastate your credit score, so be sure it is accurate if reported. | #*Public Records Information – Check to see if your report lists any delinquent accounts, bankruptcies, foreclosures, lawsuits, wage attachments, liens, or judgments, be sure they are accurate. This sort or information can devastate your credit score, so be sure it is accurate if reported. | ||
| − | #Report inaccurate information. You can inform reporting companies that you think information is inaccurate via their websites while reviewing your report, or you can write the companies. They must investigate the disputed item and forward your dispute to whoever provided them the information. You should also report the inaccurate information to the creditor in question, otherwise they may report it again and it will reappear on your credit report. If the reporting agency refuses to remove the disputed item, you can ask that a statement of your dispute be included in all future credit reports.<ref>http://www.consumer.ftc.gov/articles/0155-free-credit-reports</ref> | + | #Report inaccurate information. You can inform reporting companies that you think information is inaccurate via their websites while reviewing your report, or you can write the companies. They must investigate the disputed item and forward your dispute to whoever provided them the information. You should also report the inaccurate information to the creditor in question, otherwise they may report it again and it will reappear on your credit report. If the reporting agency refuses to remove the disputed item, you can ask that a statement of your dispute be included in all future credit reports.<ref name="rf4">http://www.consumer.ftc.gov/articles/0155-free-credit-reports</ref> |
#*Equifax – You can start an online dispute [https://www.ai.equifax.com/CreditInvestigation/home.action here], call them at 866-349-5191, or write them at: Equifax Information Services, LLC; P.O. Box 740256; Atlanta, GA 30348.<Ref>http://www.equifax.com/cs/Satellite?pagename=contact_us</ref> | #*Equifax – You can start an online dispute [https://www.ai.equifax.com/CreditInvestigation/home.action here], call them at 866-349-5191, or write them at: Equifax Information Services, LLC; P.O. Box 740256; Atlanta, GA 30348.<Ref>http://www.equifax.com/cs/Satellite?pagename=contact_us</ref> | ||
| − | #*Experian – You can start an online dispute [https://www.experian.com/consumer/upload// here] or write them at Experian; P.O. Box 4500; Allen, TX 75013.<ref>https://www.experian.com/disputes/experian-mailing-address.html</ref> | + | #*Experian – You can start an online dispute [https://www.experian.com/consumer/upload// here] or write them at Experian; P.O. Box 4500; Allen, TX 75013.<ref name="rf5">https://www.experian.com/disputes/experian-mailing-address.html</ref> |
| − | #*TransUnion – You can start an online dispute [https://dispute.transunion.com/dp/dispute/landingPage.jsp here], call them at 800-916-8800, or write them at TransUnion LLC; Consumer Dispute Center; P.O. Box 2000; Chester, PA 19022.<ref>https://www.transunion.com/personal-credit/customer-support/faqs/credit-disputes.page#howToDispute</ref> | + | #*TransUnion – You can start an online dispute [https://dispute.transunion.com/dp/dispute/landingPage.jsp here], call them at 800-916-8800, or write them at TransUnion LLC; Consumer Dispute Center; P.O. Box 2000; Chester, PA 19022.<ref name="rf6">https://www.transunion.com/personal-credit/customer-support/faqs/credit-disputes.page#howToDispute</ref> |
#Put a fraud alert on your reports. If you do find inaccurate information, it may be a sign of attempted identity theft. To safeguard your credit, contact Experian, TransUnion, or Equifax to put 90-day fraud alerts on your accounts. These alerts will inform lenders and creditors that they need to take extra precautions to verify your identity before issuing any more credit. You only need to contact one agency, and they will tell the other two to put alerts on your accounts.<Ref>http://www.creditsesame.com/blog/steps-take-immediately-victim-identity-theft/</ref> | #Put a fraud alert on your reports. If you do find inaccurate information, it may be a sign of attempted identity theft. To safeguard your credit, contact Experian, TransUnion, or Equifax to put 90-day fraud alerts on your accounts. These alerts will inform lenders and creditors that they need to take extra precautions to verify your identity before issuing any more credit. You only need to contact one agency, and they will tell the other two to put alerts on your accounts.<Ref>http://www.creditsesame.com/blog/steps-take-immediately-victim-identity-theft/</ref> | ||
| − | #Know the difference between your credit report and [[Check Your Credit Score|credit score]]. Your credit score is a number that lenders use to determine your eligibility for loans or credit cards, and it is calculated using your credit history. One website describes it this way: "If credit was a term paper, the score would be your grade at the top and the report would be the feedback your professor wrote about how well you performed on the back."<ref>http://www.whatsmyscore.org/break/reportvsscore.php</ref> If viewing your report online, Experian, Equifax, and TransUnion will all give you the option to pay to view your credit score. Scores are as follows: | + | #Know the difference between your credit report and [[Check Your Credit Score|credit score]]. Your credit score is a number that lenders use to determine your eligibility for loans or credit cards, and it is calculated using your credit history. One website describes it this way: "If credit was a term paper, the score would be your grade at the top and the report would be the feedback your professor wrote about how well you performed on the back."<ref name="rf7">http://www.whatsmyscore.org/break/reportvsscore.php</ref> If viewing your report online, Experian, Equifax, and TransUnion will all give you the option to pay to view your credit score. Scores are as follows: |
#*600 or less – This qualifies as bad credit, meaning you will find it difficult to secure credit for a car loan or mortgage. You will probably only qualify for a [http://www.wikihow.com/Get-a-Secured-Credit-Card secured credit card], which requires a deposit before you can make charges, much like a debit card. | #*600 or less – This qualifies as bad credit, meaning you will find it difficult to secure credit for a car loan or mortgage. You will probably only qualify for a [http://www.wikihow.com/Get-a-Secured-Credit-Card secured credit card], which requires a deposit before you can make charges, much like a debit card. | ||
#*600-700 – This is average credit. You will qualify for loans and credit cards, but with higher rates and worse terms | #*600-700 – This is average credit. You will qualify for loans and credit cards, but with higher rates and worse terms | ||
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===Ordering Additional Free Reports in a Given Year=== | ===Ordering Additional Free Reports in a Given Year=== | ||
| − | #Re-order a credit report if necessary. The FCRA provides for certain situations in which consumers are entitled to another free credit report, even if they have already obtained one from that reporting agency in the last 12 months. Some situations that may entitle you to a free report include:<ref | + | #Re-order a credit report if necessary. The FCRA provides for certain situations in which consumers are entitled to another free credit report, even if they have already obtained one from that reporting agency in the last 12 months. Some situations that may entitle you to a free report include:<ref name="rf4" /> |
#*You had an "adverse report" - i.e. a credit, insurance, or employment application denied because of information on your credit report. The employer, insurer, or bank will send you a notice that includes the contact information for the reporting agency that provided the report used. You have 60 days from the date you learn of the denial to contact the agency and ask for a copy of your credit report. | #*You had an "adverse report" - i.e. a credit, insurance, or employment application denied because of information on your credit report. The employer, insurer, or bank will send you a notice that includes the contact information for the reporting agency that provided the report used. You have 60 days from the date you learn of the denial to contact the agency and ask for a copy of your credit report. | ||
#*You are unemployed and plan to begin looking for a job within the next 60 days. | #*You are unemployed and plan to begin looking for a job within the next 60 days. | ||
