Free Annual Credit Report
Getting a free annual credit report is an easy way to keep track of your credit history and stay alert to any suspicious accounts opened under your name. This record lets you preview your credit information before a lender does and keeps you one step ahead of credit card fraud.
How to Get Your Free Annual Credit Reports
The only way to get a free copy of your credit report without signing up for something is to visit AnnualCreditReport.com. This is the only website approved by the government to access your free report.
Once you are at the site, you will need to fill out a brief form with your name, address, date of birth, and social security number. From there, you will choose which company you want to use for your report. This includes TransUnion, Equifax and Experian. You can systematically choose to get one from each of the major credit reporting agencies now, or just one, then go back at another time to get a free annual credit report from each of the remaining two.
The company will transmit your data to the selected company, which will confirm it against its database. To verify your information, the credit reporting agency will ask a few questions about your financial background, such as verifying the amount of your monthly mortgage payment or the name of your bank. Once you answer these questions correctly, the agency generates the credit report for you to view online.
If you prefer not to access your credit report online, you can visit the AnnualCreditReport website page offering other methods of receiving a copy. You can request a report by phone or through the mail as well. These can take up to 15 days for processing.
Using Your Free Annual Credit Report
The free annual credit report is a tool to help you verify the information the credit bureau is presenting to potential creditors is accurate. Review your credit report online or print a copy.
- Notice open accounts on the credit report. Ensure these are all accounts you opened.
- Look at the balance information and the payment history for each account. Verify these are accurate; though note it can take up to 60 days for the lender to update this information.
- Ensure your address and name is correct. If the report lists a secondary address not your own, make note of this to report it.
- Look at those companies requesting your credit report. The section called "inquiries" will list anyone who has requested a copy of your report. Too many inquiries can hold back your score.
- Find any collection accounts, bankruptcies or other public records to verify accuracy.
Because potential lenders who are determining your interest rate may review your file and compare it against the information you provide them, it is essential that all of the information is accurate, even if it seems trivial. Incorrect information may also be a sign that someone is trying to steal your information. A credit report can provide information on suspected identity theft.
Disputing Your Data
In some cases, you may find inaccurate or missing information on your free annual credit report. Each of the three credit bureaus offers an online dispute process for consumers to follow. Instructions for using this system are on your credit report when you obtain it.
If you notice any of the above information is inaccurate, contact the credit bureau to dispute it. The credit bureau will contact the lender or originator of the information to verify the information. That creditor has 30 days to respond. If that creditor cannot provide sufficient evidence to verify the claims are accurate, the credit bureau will automatically remove the information from your credit report.
In addition, if your dispute fails, or the information on your report is not complete, it is possible to provide a borrower statement on your report. Creditors will see this information when they request a copy of your report, though it may or may not affect the response you get.
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