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"Your Credit"

Articles:

How is your credit calculated?

The Fair Credit Reporting Act

What is a good credit score?

How to fix common credit report problems.

How to raise your credit score.

Where to get your credit report online.

Where To Get Your Credit Report Online

      If you plan to apply for a mortgage, car loan or credit card, then you need to make sure that the information contained in your credit report is accurate. Even if you aren’t planning on applying for credit anytime in the near future, it’s a good idea to perform a routine check of your credit report in order to detect any inaccuracies and also to make sure that you are not the victim of identity theft.

     When it comes to obtaining your credit report online, most individuals already know that a copy can be purchased from each of the three major credit bureaus. These include TransUnion (http://www.TransUnion.com), Experian (http://www.Experian.com) and Equifax (http://www.Equifax.com). What is lesser known, however, is the fact that everyone is entitled to receive a free copy of their credit report from each of the three credit bureaus every 12 months. Once each year, individuals can visit http://www.AnnualCreditReport.com and gain instant and free online access to one, two or all three of their credit reports. The credit score is not included, but may be purchased for an additional fee. Unlike other companies who offer a ‘free’ credit report, there are no gimmicks or required memberships with this website. During the process, individuals are asked to enter their name, mailing address, telephone number and social security number. This is done so that the identity of the individual requesting the credit report can be verified.

     When it comes to accessing your credit report online, you will have the opportunity to instantly view a detailed listing of current accounts, balances, payment history and all past credit accounts for the previous seven years. It is this information that combines to create your credit score, which is why it is so important to make sure that your credit reports are accurate.

     Upon inspecting the credit report, individuals are urged to file a dispute in order to resolve any inaccuracies. This may include former or current addresses, employment, credit accounts, balances and/or payment history. Once a dispute is filed, either online or by mail, the credit bureau will begin an investigation into the matter. Upon resolution, which usually takes up to 30 days, the credit bureau will mail the results along with an updated copy of the credit report to show the corrections.

     Due to the increasing concerns surrounding identity theft, it is recommended that consumers check each of their three credit reports every six months. This is the best way to detect any signs of fraud which, if detected, will allow the individual to place a fraud alert or a freeze on their credit report. If identity theft is suspected, either of these efforts will alert lenders to the possibility that someone else may be trying to obtain credit using the individual’s identity.

     Regardless of whether you are planning to apply for credit or you simply prefer to stay abreast of the information contained in your credit file, it is extremely convenient to obtain your credit report online. And best of all, every 12 months, it’s free