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How to Get Your
Free Credit Report
Recent laws
have mandated that every consumer is entitled to a free yearly
check of his or her credit reports. Seeing your credit report
not only helps you understand how potential lenders will judge
your credit-worthiness; it also gives you the chance to spot
any mistakes that could be falsely hurting your credit score.
Also, it is not unheard of for old, paid debts to show up as
unpaid on your credit reports -- or to find that accounts you
never even opened have somehow been associated with you.
In most cases, though, seeing your credit report is simply a
great way to get an overall picture of how much credit you have
available to you and how you've been using it.
To
get your yearly free credit reports from the three major credit
reporting agencies -- Equifax, Experian and TransUnion -- go
to AnnualCreditReport.com.
This is the official site to get your free credit report --
other sites may offer free reports, but they do so generally
as a lead-in to selling you other credit products. You are entitled
to your free credit report once every 12 months.
Your
free credit report shows your open credit accounts, any payment
irregularities and other credit information. What it does NOT
do is show you your credit score, or the actual number many
lenders use in deciding whether to give you credit and at what
interest rate. Credit scores have to be purchased and generally
cost around $15.
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