How to Get Your Free Credit Report
With the number of credit cards and high amount of debt accrued by many Americans today, there is a corresponding increase in interest in credit reports. Not only do companies and banks inquire about your credit when considering whether or not to approve another credit card or loan, but many times credit reports accompany résumés and applications in a job search. It is possible to receive your own copy of your credit report for free so you can know what these people are finding out about you.
Eligibility
Under Federal law, you may be entitled to receive a free credit report. If it has been twelve months or more since you last received one, and you are unemployed and planning on looking for a job in the next sixty days, or you are on welfare, you can receive a free credit report. Additionally, if you have been denied credit because of information supplied by one of the three major credit reporting agencies, by law you are obligated to receive the contact information for that agency in order to contact them and receive a copy of your credit report for free.
What is a Credit Report?
Your credit report consists of a variety of information. It includes payment history on any outstanding loans, collection accounts, bankruptcy filings, federal, state, and other tax liens, information on where you work and live, and whether you have been sued or not. A three-digit credit score is a numerical representation of this information that can be quickly referenced and understood by someone researching your credit history.
How Do I Get A Copy?
Many websites and agencies are available to help you obtain a copy of your free credit report. If you do not meet the criteria listed above, you can still receive a copy for a small fee. You can use one of many websites, or contact one of the three major credit reporting bureaus directly. These bureaus are Equifax, TransUnion, and Experian.
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Posted in Business & Finance, Money
