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Most American's do not know, have never heard or do not care they are eligible for a "free credit report" once a year.
The Fair Credit Reporting Act (FCRA) requires each of the three consumer reporting companies Equifax, Experian, and TransUnion, provide you a free copy of your own credit report, once every 12 months.(1)
Why is it crucial for you to get your free credit report?
free credit report gov - You have no idea, if or what, if you never check your credit history, inaccuracies are present. There may be entries that have a significant effect on your own ability to get credit, may sway your interest rates on credit cards and personal loans, and could prevent you from obtaining a job. If inaccuracies exist, under national law, you have the right to get them corrected.
If you find your report contains inaccurate information, the agency must correct it.
If an item is incomplete, it must be completed by the agency. Examples include payments, no longer late, or if you had a bankruptcy 12 years back, and it is still reported, you may request the agency update your report. Bankruptcy usually remains on your report ten years.
If your file shows an account that belongs to a different individual, one not authorized on your account, the agency must delete it.
There's just one website authorized under the law to control and give you the free annual credit report software... annualcreditreport.com. Several other sites, attempting to benefit from the law, claim to offer, "free credit reports." The customer has to be aware; these companies aren't part of the application.
Companies offering free reports requiring you sign up for their monitoring service, also contain the three reporting services, and are charging fees up to $30.00 per month.
Should you not need credit monitoring, you don't have to register for it to receive a free report. These companies provide a service for which they're making a fortune tempting consumers to their website under the assumption of receiving free reports. They'll give a free report to you, but you should provide your personal information to all and register for their support to become one.
If you do not need credit monitoring, and you need to pay a monthly cost to get a free credit report, it is not free.
To obtain your free report, see annualcreditreport.com. Don't contact any of the three reporting agencies. By law, they're required to offer free annual credit reports exclusively through annualcreditreport.com.
You do not get your own credit rating, it is about $8.00 and may be obtained from the reporting credit service. It isn't a part of the free credit report. Depending on your report, you can decide if you want to pay for your credit score.
Most important, you'll know where you stand in relation to your credit worthiness in planning your future credit health and present.
