Obtaining a Free Annual Credit Report

By the law of the United States, you are entitled to a free annual credit report. However, that does not mean that you know how to go about getting yours or that you know what it means and whether you are capable of getting credit.

The problem for many people is that they fall into the scam traps of the free annual credit report and soon find that they have lost money and still have no idea whether they are able to get the report that they need.

There are a number of websites that will offer you a credit report. You should only go to the websites that are run by the Federal Trade Commission. The main companies are Equifax, Experian and Transunion. These will all give you a free annual credit report; this will be every year as long as you request it.

This sounds extremely easy but unfortunately it is not. The problem is that there are a number of websites that will look like the official sites but are actually imposters. You will need to ensure that you are on the correct website by checking the address bar. You should also look into the details, such as whether you need to pay for anything or whether you need to give your details over. The government website will not ask for your bank details; there is no need for them to find your report.

You should never have to sign up to anything to get the free reports. Usually, these items that you are signing up for will require bank details. This is the way that the companies are able to take money from you but remember that do not need to pay for your yearly report.

When it comes to reading your free annual credit report, you will find that it can be confusing. Take your time with your report. The first part will show everyone that you owe money to, such as bank loans, mortgages and credit cards. This will detail your limits and how much you currently owe. It will also show the last payment that you made.

The next section of your free annual credit report will detail any missed payments that you have on your record. You should check this to ensure that you only have missed payments on there that are your fault; if you disputed with the company in the first place, you will need to dispute this again.

The final part will detail the companies that have recently looked at your credit report. This will include the voluntary checks from yourself and the involuntary checks from companies that you have given permission to check.

When it comes to your free annual credit report, you should check it to ensure that there is nothing that will stop you from getting credit or anything that is incorrect. You can put a note on your report if you were recently out of work or your circumstances have changed and this is something that you should consider doing if you have bad credit for something in the past but are on your way to fixing that.