3 Free Credit Reports For You
|
If you were to tell someone that they can have a certain item for free, more than likely their response would be, "what's the catch?" In the case of credit reports there is no catch, you can now get a free copy of this report through the three credit reporting agencies: Equifax, TransUnions, and Experian. Let's take a look at the law and how you can benefit from it.
An amendment to the federal Fair Credit Reporting Act (FCRA) requires the three national credit reporting agencies to provide one free copy of your credit report to you annually. Beginning on December 1, 2004 and culminating on September 1, 2005, the Federal Trade Commission is requiring that these agencies offer reports on a rolling, phase in basis. In other words, on December 1, 2004, if you live in certain western states you became eligible at that time and every three months later additional states were added. By September 1, 2005, residents of all states are eligible.
Fortunately for consumers, you need not contact the three reporting agencies separately to obtain your free credit report. You can order right online at www.annualcreditreport.com; or by calling 877-322-8228; or by completing the Annual Credit Report Request Form and mailing it:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
The form is available online where you can print it out and mail it in: www.ftc.gov/credit.
If you need copies more often, you can contact the three reporting agencies and request copies. You will pay for this service.
To buy a copy of your report, contact:
Equifax
800-685-1111
www.equifax.com
Experian
888-EXPERIAN (888-397-3742)
www.experian.com
Trans Union
800-916-8800
www.transunion.com
There are also private companies who will obtain all three copies of your credit report for you as well. There is a fee involved, but you may find their services to be less of a hassle than contacting the three companies separately.
So, how can you benefit from the law? By ordering copies of your reports from the companies on a four month rotating basis. Most consumers will find this plan to be sufficient and it will allow for you to compare/contrast the reports of each agency. Of course, if you already suspect fraud you will want to order all three reports at once and notify each agency to place a "fraud alert" in your credit file.
All in all, the new law is a big win for consumers. Take advantage of this "windfall" as soon as you become eligible to do so.
Matthew Keegan -- The Article Writer -- writes on a variety of business, financial, and personal interest topics. You can view additional samples of his work at http://www.thearticlewriter.com
|
|
|
Two Things You Need To Know About Prepaid Debit Cards
According to the September 2004 issue of the Nilson Report, around $588 billion dollars worth of debit cards were bought in the United States in 2003. By 2008 that volume is expected to grow to $1.231 trillion putting a significant dent in the nation's use of pure credit cards as consumers continue to favor the use of prepaid debit cards. If you are among the nation's millions who are currently using prepaid debit cards or are among those considering their use, you need to know two things that may detract and enhance your use of the prepaid debit card.First, know what you're getting. Most people understand t...(related: Credit)
Credit Scoring: What You Dont Know Can Hurt You
You've probably heard the term credit scoring. You may have some idea that your credit score can have an effect on your life. For example, you may understand that when you apply for a mortgage, the mortgage company will check out your credit score.But did you know that the interest rate you can get on your mortgage ?and on credit cards ? will depend heavily on your credit score? Did you know that more and more employers will check your credit score when you apply for a job, and that insurance companies may raise your premiums or even cancel your insurance based on your credit score?So, what is a credit score and how is it calculated?Your credit score (in some ...(related: Credit)
Like It Or Not, You Have A Score To Settle! Part 1
Just when most people finish with school and can stop worrying about test scores, there's a new kind of scoring that enters the picture. It's called credit scoring. And, its impact on your financial future can mean more to you than a college degree.Why It's So Important:Ever wonder how a creditor decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you'd be a good risk for credit cards and auto loans. Mor...(related: Credit)
Credit Help For Real Estate Financing: Five Categories Of Your Credit Score
1. Payment History -- 35%The number of accounts paid as agreed and a good payment history give you a higher score.Negative points lower credit scores because of 30 days, 60 days, and 90 days late on any debt. The dollar amount of these delinquencies also impacts credit scores. Severity of delinquency, how long past due, and number of delinquencies are nasty remarks on some credit reports. The older these derogatory items are, the less impact they have on credit scores. You do not want any present delinquent accounts when applying for a real estate loan.Never, ever pay a mor...(related: Credit)
Which Credit Card?
Bewildered by the sheer variety of debit cards and credit cards? Here is a breakdown of some of the main types of debit and credit cards available:Debit cardYou can use a debit card to buy goods and...(related: Credit)
Is Your Credit Score Being Held Against You?
Credit Scores That HurtIs your credit score being held against you?More and more the staples of life depend on your credit score. Your mortgage, insurance premiums,employment opportunities and even your landlord may be using your credit score to determine yourfinancial future.In some cases even the utility companies are basing the size of your deposit on your credit score.Landlords are determining your reliability as a tenant. Insurance companies are setting the size ofyour premiums based on your credit score. Many more employers are also using your score todetermine your reliability.<...(related: Credit)
Credit Report ? How To Improve Your Credit Score
One of the great mysteries of life is how the three major credit bureaus (Experian, Equifax, and Trans Union) score credit. They all have secret statistical formulas for determining your credit score, but they are unwilling to divulge exactly what, exactly, constitutes your score. This can make it difficult for people with problem credit to try to improve their score in hopes of obtaining a home or car loan later.While the exact formula is a secret, there are a few things you can do that will undoubtedly improve your score:Pay off a home equity line of credit. These loans, which allow you to borrow more than once against your home's equity, are considered revolving credit, much like a credit card. Pay it down or pay it off; either should he...(related: Credit)
Good Credit Is King, When Qualifying For Mortgage Programs
If you want to purchase a new home or refinance your current mortgage, be sure to check out the wide array of loan programs available. If you have less than excellent or even poor credit, you can still ...(related: Credit)
5 Killer Steps To Avoid Credit Card Scams!
In August, 2004, the Federal Trade Commission issued their findings of a recent study, which showed that nearly 25 million adults were victims of fraud.Now, most importantly, If you are a victim of fraud, please do not feel like you did anything wrong. It happens to all of us at one point or another, as the FTC's study clearly shows. Everyone likes a magic trick, and none of us are fully capable of noticing the con-artists' slight of hand. So, if you're a victim, take a deep breath. You're normal.But, there's an old saying that goes some...(related: Credit)
Good Credit Is King, When Qualifying For Mortgage Programs
If you want to purchase a new home or refinance your current mortgage, be sure to check out the wide array of loan programs available. If you have less than excellent or even poor credit, you can still ...(related: Credit)
site-map - Copyright © 2006 | Contact Webmaster | All Rights Reserved. | Credit