Free Credit Report Advice

Credit Reports have never been more prevalent whether you are purchasing a home, car, or applying for a loan. The process you go through is a lot smoother if you have an up to date credit report. Did you know, that you are entitled to one free credit report a year? Yes, once a year you are eligible to have your report done for you absolutely FREE!

According to the Free Credit Reporting Act or the FCRA the three national consumer report companies HAVE to give you a copy of your credit score free upon your request. The three companies are Equifax, Experian, and TransUnion. They have partnered together to create one online website regarding free credit reports annuelcreditreport.com. This is the only website that will give you a free credit report annualy without any hidden fees. Other sites are more than less impostor sights or programs that may be free when you first sign up, but may have a hidden charge or two in the future.If they ask for your credit card DO NOT give it to them, unless you want some small print fees to appear on your credit card.

For those of you who have little or no experience or idea about credit reports, I will provide you with information on the basics and ins and outs of credit reports.

The information you will need on hand when you are applying includes the following: your name, address, Social Security number, and date of birth. As well as financial information about your previous payments including payments from your mortgage or car.

Why having a credit report is so beneficial for you. Having a credit report available will help in the chance of you applying for a loan. As well as the ammount you have to pay for the loan. You want the information to be accurate and current before you do any of the following: Apply for a job, a loan, buy insurance, house, or car. Any major purchases will be effected by your credit report. It especially EXTREMELY important for those who have had identity theft or fraud, to obtain a free report after all of the ordeal has been fixed with your credit company. Though it may cost you a fee of approximately $10.50 from any of the providers Equifax, Experian, or TransUnion.

Are there any situations in which you are entitled to more than one free credit report a year? The answer is yes under federal law, you’re entitled to a free report if a company takes adverse action against you, such as denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the consumer reporting company.

What if there are erros in my credit report? The first thing you must do is notify the company that you believe that their report was wrong. In writing explain what information is wrong. Consumer reporting companies must investigate the items in question — usually within 30 days — unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. And the results of your dispute if fixed will be given to you in another free report that does not count as your free annual report. If the error is not corrected than you can ask the company to provide a copy of your case with your credit report.

The only people who will ever have access or information about your credit report include, Creditors, insurers, employers, and other businesses that use the information in your report to evaluate your applications for credit, insurance, em­ployment, or renting a home are among those that have a legal right to access your report.

Hope this Helps and God Bless!

-The Franklin