How To Get Your Free Credit Report
Under the Fair
and Accurate Credit Transactions Act, passed by Congress in response to
soaring identify theft claims, consumers can request one free credit report
every 12 month-period from each of the three national credit reporting agencies,
Experian, Equifax and TransUnion.
The reporting companies have set up one central Web site, a toll-free phone
number, and mailing address through which you can order your free annual report.
Consumers can get their free credit reports from one centralized source in one
of the three ways:
Requesters will have to supply a Social Security number, date of birth, and
answer a few personal questions to get instant access online. Credit agencies
have up to 15 days to send out reports that are requested by phone or mail.
How to order a free credit report online
- Go to www.annualcreditreport.com.
- Click on your state of residence.
- The next page will list the three credit reporting agencies (Experian, Equifax
and TransUnion). Clicking on the agency you wish to obtain the report from
will take you to that agency’s site. To get a report from all three
agencies, you have to go through the process three separate times.
- You'll be asked for information such as your name, address, date of birth,
and your Social Security number. If you have moved in the past two years,
you may have to provide your previous address. All of the data is encrypted
as it travels over the Internet.
- Then you move to the "authentication" page. That's where you'll
be asked specific, detailed questions to which only you will know the answer.
The questions are related to financial obligations that you currently have,
and require detailed knowledge like the amount of your monthly mortgage payment.
This is not your mother's maiden name type of question.
- Once you've been authenticated, your credit report will pop up on the screen.
Remeber, however, that you do this in a secure place -- and be sure to close
your browser, so no one else can go back to that report.
Other ways to get a free credit
report
You are also eligible to get an additional free consumer credit report today
if:
- you live in Colorado, Georgia, Maryland, Maine, Massachusetts, New Jersey
or Vermont, or
- you have been denied credit, employment, insurance or housing, public benefits
or employment based upon a consumer credit report
- you are unemployed and plan to look for a job within 60 days
- you are on welfare
You may also buy a copy of your credit report.
To purchase a copy of your credit report, contact the credit reporting agencies
directly. it will cost about $9.50 per report.
What to do with your free credit report?
The bad news is that it's estimated that up to 80 percent of all credit reports
contain some type of error, so that's a good reason for you to stay on top of
things. If you spot an error in yours, contact the appropriate credit bureau
and go through the process of having it corrected.
If you notice something unusual on your credit report -- an account that doesn't
belong to you or an attempt to establish new credit at a store -- you can easily
register a dispute with a click of your mouse. Or, there's a toll-free number
to call for immediate action.
The new law lets consumers dispute information directly with the credit reporting
agencies. The agencies will have up to 45 days to respond to dispute information
unless it involves ID theft or declined credit.
|
