Annual Free Credit Report

Your credit report is a reflection of your financial health.  Getting a free credit report is your opportunity to check your information and correct inaccurate and outdated data.  It’s also a way to monitor if you’ve been a victim of identity theft. When you correct the data on your free credit report it could help lower your overall credit score. With a lower score you usually enjoy lower interest rates.

Where to get your credit report:

1.  Credit reporting agencies.

Get your free credit report online from one of the three major credit report bureaus, which are Experian, Equifax and Transunion.  You can go to their website and download their forms, fill it out and send your request through certified mail.  Below are their addresses and numbers.

Equifax Information Services LLC
PO Box 740241
Atlanta, GA 30374
www.equifax.com

Experian
PO Box 2002
Allen, TX 75013-0036
www.experian.com

Transunion
PO Box 1000
Chester, PA 19022
www.tuc.com

If you request a credit report through mail, don’t forget your full name, current address and Social Security number.  You also need to write your recent former home address so the bureau can match their files.  Rates vary by state or whether you’re getting a first report or an additional report within a 12-month period and can range from $5 to $10.

With your request, you also need to send a check for payment, as sending cash is not allowed.  If you choose to pay through credit card, you’ll have to include card information like: your name as it appears on the card, card type, account number, expiration date and the 3- or 4-digit identification number that comes with your card.

2.  Call for a request

To get a free credit report, you can call 877-322-8228 and request for one, or you can call one of the major credit reporting bureaus.  Their numbers are:

Equifax - 1-877-SCORE-11
Experian – 1-888-397-3742
Transunion – 1-800-888-4213

3.  Get it online.

If you don’t want to go through snail mail or phone, you can go to any of the credit reporting agencies’ website and request for one.  You will be required to provide pertinent information like your name, address and social security number.  The site then verifies your information for accuracy and then sends your credit report through email. 

Or, if you choose, you can view it directly from the website.  Do not expect a partial credit report; what you’ll get is your entire credit history.

4.  Get it free once a year.

The Fair and Accurate Credit Transactions Act allows you to request a copy of your credit report every 12 months from each of the three major companies, for free.  You can also go to www.annualcreditreport.com to request for one. 

Make sure that you print out your credit report once you receive it.  If you try to access the site again, you may have to pay.  And once you’re done, either turn off your computer or quit your browser so no one else can access your report.

If you have been unemployed and will be actively looking for work for the next 60 days, on public welfare, or have been denied credit or insurance within 60 days before applying for a request, you are also entitled to a free credit report.

5.  Get it with help from the Federal Trade Commission.

Go to the FTC’s website: http://www.ftc.gov to download a request form in PDF.  Fill it out and mail it to the Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281.

What you’ll get

Personal information – your name, birthdate, addresses (current and most recent) and your employers.  This information is based on the data you supplied at the time you applied for a loan, so its accuracy depends entirely on your honesty.

There are some personal information about you that will not be included: your race, religion, criminal record, medical history and other such information will not be included.

Credit history

Your credit report will show your entire credit history and will contain a comprehensive list of your credit payments.  Student loans, bank loans, credit card bills will be listed on your report.  Loan amounts and balances along with your credit limits will be reflected as well.

Other information

If you have failed to pay child support or had filed for bankruptcy, your credit report will reflect these as well, along with tax liens and charge-offs.

Requests from other people
Also included in the report would be the list of names of those who requested for a copy of your credit report, usually your creditors or employers.

Credit score

Your credit report will include your credit score.  This is a three-digit number that can go from 600 to 800.  The higher your credit score, the better credit standing you have. 

Negative information like bankruptcy will stay in your credit report from 7 to 10 years, depending on the type of bankruptcy.  If you filed for Chapter 13, that information will stay for 7 years and if you filed for Chapter 7, 11 and 12, for 10 years.  Other public information record will be dropped from your report after 7 years.

Once you have your free credit report…

Review the information for accuracy and check for errors.  If you find some, be prepared to write a letter of dispute.  By law, the credit reporting company is required to investigate your complaint immediately.  If you are found to be correct, they should amend or remove the inaccurate information.  If you find information that is more than 7 years old, you may request that it be removed.

Remember, there are few things free that are still left in this world, but believe it or not, a credit report is one of them. It is your right, as stipulated by the Fair Credit Reporting Act or FCRA, to obtain one totally free annual copy of your credit report from any of the Big Three credit bureaus, namely Experian, TransUnion, and Equifax, ONCE A YEAR.

Who Gets Access to Your Credit Reports?

You’re not the only one who can gain access to your credit reports but the law is pretty specific as to who else can get it. Your employers and landlords will have access to your credit report because they can use the information to gauge your expected performance as an employee or tenant. Credit card companies, insurance firms, and other businesses that you could be applying to will also have access to them.

The quick and easy way to Order for Your Absolutely Free Credit Report

To facilitate processing and procurement of free credit reports for American consumers, the Big Three credit report companies have set up a website – www.annualcreditreport.com so that people may access their credit reports online and immediately. It’s up to you if you wish to save the data or not but remember that you can only access it only once a year.

The second way you can order for your free credit report is by calling its toll free hotline #1-877-322-8228. Lastly, you can also fill up and submit the Annual Credit Report Request form to the Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281.

Whichever way you choose, you will be requested to submit your name, date of birth, address, and Social Security number for the computer to verify your identity. The company could also ask you to provide other information that’s only known to you if further information is necessary to confirm your identity.

Possible Problems You May Encounter When Getting Your Free Credit Report

If you are interested in obtaining your free credit report online, make sure that you’re using a recognized ISP from the United States or any of its territories. Otherwise, you won’t be able to access any part of the website.

If you have a common surname like Smith or Jones, you might have more effort to make in confirming your identity. As such, expect to wait a little longer than usual before you can access your credit report.

If you make your order by phone or mail, expect a fifteen-day processing for your report.

Even if you don’t have problems verifying your identity, it’s still possible that you’ll have to wait longer than fifteen days for your free credit report. This usually happens when the companies are receiving a high number of requests for free credit reports. Remember it was free so you can't complain if there is a short wait.

If you try directly contacting any of the Big Three companies for your free credit report, don’t feel bad if you’re not entertained because their long-standing policy is to only process requests coming from the website and the specified post office box and telephone number.

Other Instances When You Can Get a Free Credit Report

If someone turns down your credit card or mortgage application, or if you were turned down from a job application due to your credit, you could ask for a free copy of your credit report from the same credit bureau that issued your credit report to the company or individual you’ve submitted your application to. Any negative action taken against you will usually warrant you a free copy of your credit report as long as you submit your request before sixty days have passed.

Experts advise consumers not to get their free annual credit reports simultaneously. It’s better if you allow a certain interval between making each request so you can compare and verify reports for accuracy.