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Yearly Credit Report

So How Much Is An Annual Credit Report?

Credit Topic: Yearly Credit Report

If you know where to look, getting an annual credit report shouldn’t cost you a dime. Back in the 70s the Federal Trade Commission (FTC) passed the Fair Credit Reporting Act, which made it so that you can request free yearly credit reports from the 3 national consumer reporting companies on a yearly basis. New amendments have been made since then, but the basic Act remains the same. You can learn more about it at www [ dot ] ftc [ dot ] gov.

Given the emphasis put on credit reports, score and histories nowadays, it’s a good thing the government bureau has regulated it in such a way as to allow a consumer to get a free anual credit report no matter where in the U.S. we live. Federal law requires that the three big credit reporting companies (Experian, TransUnion and Equifax) make our credit reports available to us, whether via telephone service, by filling out a form on a website, or through an online program with no fee associated.

Why Should I Request A Free Annual Credit Report?

Your personal credit report and score is a major consideration when it comes to buying a car, a home, opening a credit card or even applying for a new job. Most places will contact the credit bureaus in order to perform a credit check to decide whether or not to loan you the money, give you the credit card, hire you for the job, etc. In the United States, a lot of emphasis is put on having good credit, and while it may not always be right, it is how many businesses characterize whether you’re a “responsible” person, or just too risky to deal with.

Can I View My Annual Credit Reports?

While there’s nowhere on the web you can go to see your credit report automatically, there are several websites out there where you join a program or simply order your credit report. Annual Credit Report [dot] com is one site you can visit for more information. Also, any sites with a .org attached to the address can usually be a good resource. Simply read all the fine print before you join any program, as some may lock you in and charge you monthly for a membership.

Any co. that doesn’t offer a telephone number for contact may not be the most reputable one to use, so do your research and simply use common sense. As you may have heard, Free Credit Report [dot] com is another site with a ton of information on the subject.

Credit Reports - Credit reports explained by example.



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