Free Credit Report

What to Know When Getting Your Free Credit Report

Your credit is one of the most valuable commodities that you have. A credit check is part of getting a loan for a car or house; it’s also used by landlords, insurance companies and even potential employers to determine how trustworthy you are. An identity thief has the ability to ruin your credit and cause damage to your finances for many years. In order to avoid the potential damage caused by an identity thief, it’s a good idea to regularly check your credit.

By keeping track of your credit report, you can ensure that there are no fraudulent charges against your accounts. You can also make sure that the number is accurate and reflects the true state of your finances. If there are any problems, you will know how to correct them.

There are numerous ways to check your credit score. Credit information is reported to each of three credit bureaus. Each bureau presents its data in a unique way and there may be discrepancies between each report. This means it’s a good idea to get a report from each one. Also be aware that you can only check your credit once a year.

What’s the Best Way to Check My Credit?

The three major credit bureaus are Equifax, Experian, and TransUnion. You are entitled to a free credit report from each company once per a 12 month period. You can request a free copy at AnnualCreditReport.com; this will include information from each company so that you have a complete glimpse at your credit score.

You can also check your credit score if you are denied credit. In this case, you can only get the credit report from whichever credit bureau denied your application. This means you will only get one report, not three. Nevertheless, this will allow you to see what flaws were on your credit and why your application was denied.

What About Other Credit Monitoring Sites?

Many people become familiar with the importance of credit monitoring through commercials for FreeCreditReport.com and other credit monitoring programs. Although these programs certainly provide free credit reports, they offer an additional service in the form of credit tracking. This is a paid service, so it’s a good idea to make sure that it’s something you want to use before enrolling in the program.

A credit tracking program monitors your credit and sends you email alerts or other notifications whenever your credit score fluctuates. This provides you with real-time information about your credit and can help you spot an identity thief right away. Some programs also provide credit insurance. This will provide you with the resources you need to dispute charges to your accounts and work on reversing your credit.

FreeCreditReport.com is owned by Experian. Other credit monitoring programs are owned by different companies, including banks and insurance companies. These may sometimes be rolled up in a larger identity theft insurance policy. Different policies cover different situations, so it’s a good idea to read the fine print and make sure you know exactly what is covered under your policy before investing in it.

Ultimately, the choice is yours whether or not to obtain paid credit monitoring. For many people, an annual credit check is sufficient. Other people believe that investing in a paid credit monitoring program is worthwhile for the peace of mind it gives. By taking the time to understand your options and choosing the best one for you, you can be sure that your credit stays secure.