Advocates have long encouraged consumers to monitor their credit reports as a way to detect identity theft. But, your credit report has information that also affects whether you can get a loan – and how much you will have to pay to borrow money. And auto insurers have been using credit score as a predictor of risk for a number of years. And, employers often check credit score before they decide whether to offer you a job. So an error in your credit report can cost you.
Getting Your Report
You should get a copy of your credit report to:
- make sure the information is accurate, complete, and up-to-date before you apply for a loan for a major purchase like a house or car, buy insurance, or apply for a job
- help guard against identity theft. That’s when someone uses your personal information – like your name, your Social Security number, or your credit card number – to commit fraud. Identity thieves may use your information to open a new credit card account in your name.
The Fair Credit Reporting Act requires each of the nationwide consumer reporting companies – Equifax, Experian, and TransUnion – to provide you with a free copy of your credit report, at your request, once every 12 months. The three companies have set up one central website, toll-free telephone number, and mailing address through which you can order your free credit report. See the box for web, phone and mailing address. Make sure if you request a credit report you only use this information.
Only One Official Site
Many other websites claim to offer “free credit reports,” “free credit scores,” or “free credit monitoring.” But, be careful. These sites are not part of the official annual free credit report program. And in some cases, the “free” product comes with strings attached. For example, some sites sign you up for a supposedly “free” service that converts to one you have to pay for after a trial period ends. If you don’t cancel during the trial period, you may be agreeing to let the company start charging fees to your credit card.
These sites often look like the official site at http://www.annualcreditreport.com. Some use terms like “free report” in their names; others have website names that purposely misspelled in the hope that you will mistype the name of the official site. Some of these “imposter” sites direct you to other sites that try to sell you something or collect your personal information.
If you want to order your free annual credit report online, go to : http://www.annualcreditreport.com , or go to the FTC’s website (http://www.ftc.gov) which has a link to it. Once you have filled out certain information , you will be directed to individual websites operated by the three nationwide consumer reporting companies.. You may get offers to buy additional products or services while on the companies’ websites, such as credit scores or credit monitoring products, but you are not required to make a purchase to receive your free annual credit reports. You’ll have to pay extra to get your credit score. But, your credit report is free
If you get an email or see a pop-up ad claiming it’s from annualcreditreport.com or any of the three nationwide consumer reporting companies, do not reply or click on any link in the message – it’s probably a scam. http://www.annualcreditreport.com will NEVER send you an email solicitation for your free annual credit report, use pop-up ads, or call you to ask for personal information.
Take the time to check your credit report. If you find an error, notify the credit agency that issued the report. They are required by law to investigate items that are disputed.
