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Check Your Credit Report

Created: On December 11, 2009 @ 12:12 pm In

You’ve probably seen advertisements offering free credit reports. Only one Web site, [1] annualcreditreport.com, is actually authorized by the federal government to offer free annual reports from the three major credit bureaus. Getting a report from another site could take a bite out of your wallet.

Getting a Free Credit Report

Annualcreditreport.com offers a free report every 12 months from Equifax, TransUnion, and Experian. If you check your credit report more often than that you must pay a fee unless you:

  • Have been denied credit
  • Have been the victim of identity theft
  • Been denied employment because of your credit
  • Are unemployed and plan to look for a job within 60 days

Credit Monitoring Services

Use caution when signing up for other sites that allow you to [2] check credit reports. Many of these sites require you to sign up for credit monitoring services to get your free credit report or a free credit score. You may be offered a free trial period, but have to provide a credit card number to sign up. Unless you cancel the service when that period ends your credit card gets charged each month.

Debt Reduction Plan

Checking your credit report is important when working on a debt reduction strategy. Your report can show who you owe, how much you owe, if any liens or judgments are listed against you, how many times you’ve been late with payments, and other important information about your finances.

Fix Inaccurate Information

You can also correct any mistakes that show up by contacting the agency that issued the report. Be sure to get a copy of your report from all three of the credit reporting agencies once a year because the information contained in them isn’t always the same. Instead of getting all three reports at once, you may want to get a different one every four months to keep an eye on your credit situation throughout the year.

Article printed from DebtHelp.com Blog: http://www.debthelp.com/blog

URL to article: http://www.debthelp.com/blog/2009/12/11/check-your-credit-report/

URLs in this post:
[1] annualcreditreport.com: http://www.debthelp.com/blogannualcreditreport.com
[2] check credit reports: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm