Free Government Credit Report

With all the commercials these days on television advertising free credit reports, you may wonder if they are really the same as the free government credit report.

Beware of Identity Theft!

Unlike the advertisements you see in your newspaper, on the radio or television, the free government credit report is really free. Some companies say they offer a free credit report but only if you enroll in the company’s credit program.

Every United States citizen can obtain an annual free credit report from all three major credit bureaus -TransUnion, Equifax, and Experian- through the Federal Trade Commission. The Federal Trade Commission (FTC) offers a brochure called Your Access to Free Credit Reports that you can download, complete, and mail. If you prefer, you can fill out the online application and receive your report instantly, or for more information call the FTC’s toll-free number: 1-877-322-8228. The mailing address to obtain your free credit report is Annual Credit Report Request, P.O. Box 105281, Atlanta, Georgia, 30348.

The annual free credit report allows consumers to receive copies from all three credit bureaus: TransUnion, Equifax, and Experian. You may order from just one company or all three at the same time through the Annual Credit Report website.

Credit experts say it’s best to order each of the three annual credit reports you are entitled to in a staggered method. This will enable you to keep track of any new information that appears on your credit report.

It is up to you whether you want to order a credit report from all three credit bureaus at the same time or if you want to stagger them. The FTC keeps track of how many reports you order. For example, if you order a report from TransUnion in January, you will not be eligible to request another TransUnion report until January of the following year. However, you may still obtain reports through Equifax or Experian. If you order all three credit reports at the same time, you will not be eligible to request them again until twelve months, or one year, has passed since your first request.

Your credit report contains information regarding your employment, address, how you pay your bills, civil actions, and bankruptcies filed. All of these factors are combined to create your credit score. Below is a chart showing credit scores. Lenders and other finance companies use these scores when making a decision to offer you credit or financing.

The FTC and the free government credit report website warns of imposter companies which attempt to offer "free" credit reports. These companies may offer you a free credit report along with a free trial period to monitor your credit report for any new activity, but if you forget to terminate the free trial period these imposter companies will charge the credit card you gave them upon enrollment.

Other imposter companies will send Spam emails or attempt to misspell the government’s website, Annualcreditreport.com. The FTC does not send out emails so if you receive one that appears to be from the government, report it via e-mail (spam@uce.gov) to the FTC.

Most consumers don’t realize that every time your credit report is run requested by a potential lender, there is a potential for your credit score to drop. Checking your own credit report, however, does not generally have any influence on your credit score whatsoever.

This is why it’s important when obtaining financing or credit of any kind to not allow too many lenders or finance companies to run your credit over and over again. The best way to keep track of your credit is through the FTC’s free credit report system. If you stagger your requests, your score will remain solid unless derogatory credit issues are reported such as late or non-payments.

When you’re ready to finance your next big purchase or obtain credit, order your free government credit report from the FTC first to find out your credit score and what is contained in your credit report.

For more information on your credit history and how to dispute inaccurate information, download the Your Access to Free Credit Report brochure from the FTC.

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