Free Credit Report Facts
Most people are already aware already aware of the great
importance of credit reports.
Whenever you file for a credit application, take note if
your application is approved or rejected; or if ever the
application is approved, note the interest charged by
the lender. Credit applications are usually influenced
by the contents of the credit reports. You see, lenders
and other companies check with the 3 credit reporting
agencies or bureaus whenever you file a credit
application. Here are some free annual credit report
facts that you should know before you decide to look
into your own credit report.
Fact #1
Only annualcreditreport.com can provide you
with a free credit report copy. There are dozens or even
hundreds of websites out there that say they can give
you a free copy but you should be wary of such sites
because they are fraudulent and fake. The site was
chosen by the 3 reporting agencies to provide the
authentic and updated copies of credit reports.
Fact #2
Don’t believe in phone calls or emails telling
you that they are from any of the major credit reporting
bureaus. Keep in mind that if you don’t make any
requests to secure a copy of the credit report, then you
will not get anything. The effort should come from the
consumers and not from the reporting bureau or agency.
If you receive any fraudulent calls or emails, you can
contact the three bureaus about it for verification.
Fact #3
Credit reports are vital. Once you get a copy
of it, you need to check it out item by item. If you
find any error, don’t hesitate to inform the concerned
credit reporting agency and provide the name of the
merchant/company/lender. If you have sufficient files
and evidence to back your claims, go ahead and file a
dispute. The Fair and Accurate Credit Transactions will
be there for you. The error will be investigated
immediately by the reporting bureau and if there really
is an error, you will again be provided with the updated
credit report. The concerned agency will also forward
the changes to the other two agencies so that the
necessary changes can be made. If no corrections were
made, you can ask the credit reporting agency to attach
your complaint on your report so that anyone who sees
the attachment will know that the entry is questionable.
Fact #4
Your written approval is needed when the credit
reporting agencies will send your credit report to your
employer and other financial institutions. These are
just four simple facts that you should know about the
annual credit reports. Always keep them in mind because
you might need such information in the future. With a
credit report, you can already assess your credit level.
If you want to maintain a positive credit score, you
should be responsible with your finances. Don’t make
unnecessary credit applications. You have to ensure that
there really is a need for such credit application.
Also, don’t forget to pay all your financial obligations
on time. That is the only way to maintain a positive
credit score. Its also a good idea to sign up for credit
monitoring especially if you’re a busy individual so
that you can receive alerts from the credit reporting
agencies when there are changes or new credit
applications. Still, if you can do the task of
monitoring your credit report on your own, you don’t
have to opt for such alternative.
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