How To Get Free Credit Report
How to Get Your Free Credit Report From All Three Credit Reporting Agencies
Most people, at some point, will find themselves relying on credit to make a very important purchase. Auto lenders, mortgage lenders, and apartment agencies are all institutions that base decisions on credit history. Just as with many things in life, history teaches valuable lessons, and many times it serves as a good indication of the future. For this reason, lenders and employers use a person’s credit history to determine credit worthiness, and eliminate potential high risk customers and to screen potential employees. The credit report shows a history of past and present payment habits that could be indicative of future habits. Lenders use this report card to determine potential risk associated with potential customers, and thus determine if they are going to approve, decline, or approve with built in cost of risk. A lower credit rating generally translates into higher interest rates & deposits required for the approval of a loan application. It is important, for this reason, that you know your credit rating, which is based primarily on your credit history.
Understanding this, many companies profit from selling consumers useful products to track credit. Equifax, Experian, & TranUnion; the three major credit bureaus are the most notable resources to obtain a credit history and report. Companies like CreditKarma.com, and Freecreditreport.com also attract customers by offering these valuable credit reports free of charge, however the customer must purchase the actual credit score. A credit score is based on the information found in your credit history, so it is essential that you know what is contained in that history. While many companies promote free credit report services, they still require you to sign up for other paid products. Although the products, such as credit scoring and credit monitoring are very valuable, they do cost. Under federal law, each U.S. citizen is entitled to a copy of his or her credit report every 12 months. The only true source to obtain your free credit history is AnnualCreditReport.com. To receive your free annual credit report you can visit www.AnnualCreditReport.com, or PH (877) 322-8228 to request it by phone. Be sure to request all 3 free reports at the same time. Having all 3 reports will allow you to compare all three reports for inaccurate information, that can be disputed.