The Process of Obtaining a Credit Report is Actually Free.
All residents of the United States can access a free
credit report every year from the three major credit bureaus, along with other
credit report websites. Your credit report is essential for many things, such
as getting a loan or financing, and keeping track of your debts. If you wish to
improve your credit score, then you will have to obtain your credit report and
see what debts you owe. Many lenders will also request your credit report. In
addition, it is generally a wise idea to view your credit report on a yearly
basis to know where you are financially. You may have some debts from the past
that you have not yet paid, or your credit score may have been affected
negatively due to unwise financial decisions. Since it is completely free to
obtain, there really is no reason to not review your credit report on a yearly
basis.
Though they are free to every United States citizen,
they are not automatically sent out. You will have to take the steps to obtain
the credit report yourself. Obtaining a free annual credit report is quite a
simple process. There are three ways that you can your credit report: online,
by mail, or by phone. To get your credit report online, you can request it
using one of the three major credit reporting agencies. There are also other
third party credit reporting agencies as well. The three major credit reporting
agencies are federally approved, while the third parties are not. Otherwise,
you can access your credit report over the phone. This option is better for
customers who are not so technologically savvy. There is an official number
that can be called where you can request your credit report. You will be asked
some information to verify your identity, then you will receive your credit
report in the mail 2-3 weeks after requesting it. Thirdly, you can request it
by mail. This is the slowest method. You will have to complete the Annual
Credit Report Request Form and mail it to the Annual Credit Report Request
Agency. Once the request has been received, you will get your credit report
within 2-3 weeks.
There are no fees or a complex verification process
to go through to receive your credit report. This is all government mandated,
so you can be assured that you will be able to get your credit report promptly
and free of cost. This is something that all Americans have access to. Many
people are not aware that they can access their credit report for free. Even if
you requested your credit report the year before, you can request it again each
year. There may be changes on your credit report depending on how you handled
your finances during the year. Even if you have already requested a credit
report that year, you can get another one under special circumstances. If you
had credit, insurance, or employment denied because of information on your
credit report, then you can request another one. You must contact the agency
within sixty days of the denial and request a new one. If you find yourself
unemployed and plan to look for a job within sixty days, then you can request
another credit report. Also, if you have been a victim of fraud or identity
theft and have reason to believe that there is false information on your credit
report, you will be able to request another one.
To get your free credit report, you will need
various bits of personal information to verify your identity. This includes
your social security number, current address, date of birth, and various
information on loans that you have out along with credit card information. Keep
in mind that the three major credit report agencies will not send you email
asking for your personal information. If you get such an email, avoid replying
to it and report it as spam. The same goes for phone calls and pop up ads. Do
not give personal information online unless you are sure that the website is
safe and secure. In addition to this, aside from the three major credit
reporting agencies, there are various companies that offer free credit reports
but sign unknowing customers up for services which they are billed for. The
customers must cancel to avoid being billed further. Unfortunately, many
customers are unaware of this and end up being billed for services that they do
not want. Be aware of these scams and only make sure to get your credit report
information from federally authorized credit report agencies.
You may see appealing ads for “free” credit
reporting agencies on television and think that you should get your credit
report through those agencies. The ads may be entertaining but you should avoid
getting your credit report from agencies that are not federally authorized. There
are hidden fees with these agencies, and many times customers are unable to get
a refund. In fact, one of these companies was hit with several lawsuits and had
to pay a settlement of hundreds of thousands of dollars. This just shows that
these companies are not to be trusted. They usually don’t disclose fees to
their customers, so customers are stuck with unwanted fees with no way of
getting a refund. Remember that you are not required to pay a cent for your
credit report, so any company that requires you to pay a fee should not be
trusted. Through a federally approved agency, you can get your report free of
cost.
If you choose to obtain your credit report online,
it is best do so from your own personal computer, if you have one. Try to use a
browser that doesn’t have any add-ons that may interfere with the process. If
your browser or internet connection fails during the submission process, you
may be required to request the information by mail. Again, make sure the
website you are inputting your personal information into is federally approved.