Yearly Free Credit Report Gov

Before the The Fair and Accurate Credit Transaction Act of 2003, or FACTA, consumers had to pay $9.50 for a copy of their credit reports from the three credit reporting bureas; Experian, TransUnion and Equifax. Now, you can conveniently request for your yearly free credit report gov or from the government. This is a benefit that you now have and should take full advantage of to raise your credit score. Take note that the free annual credit report does not include a credit score, it can be purchased as an added service. Here are the things that you should know about the yearly free credit report gov:

Yearly free credit report govHow can I request for my free annual credit report?

You can request for your free annual credit report in one of three ways; phone, internet or by mail. There is a central unit that the three bureaus have established to give out free credit reports. You can reach them through the website annualcreditreport.com, a toll-free hotline with the number 1-877-322-8228 or send your request by mail to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. If you wish to send a request by mail, be sure that you fill out and include in the mail the Annual Credit Report request form.

The Federal Trade Commission or FTC advises consumers that the best and safest way to order their credit report is by mail.

What is the fastest way to order my free annual credit report?

You will be able to access your free credit report almost immediately through the website. But be sure that you save a copy of it on your computer because you might only be able to access it once. Once you log out, you can’t access it freely again.

How long will it take for a credit report requested through mail or phone?

If you sent your request by mail, it will be sent to you within fifteen days upon receipt of your request. If you requested through the hotline, it will be sent out within fifteen days as well. Your credit history report might take longer to get to you if more information is required in order to verify your identity.

What information is required in requesting for a yearly free credit report gov?

The four basic identifiers that you are required to give are your name, address, date of birth and Social Security number. Don’t be surprised if you will be required to provide a previous address or other information only you know of such as insurance, mortgage and loan details, this is for added security. Credit card details are never required so be extra careful with this information especially when requesting for your credit report online. Double check that you are on the authorized website because there are countless others that offer free services.

Warning

The FTC asks consumers to take extra precaution when dealing with website that claim to offer free credit report and score. Some will simply steal your personal information so don’t give out your credit card details to anyone and others will give you inaccurate information and charge you for their service.

One Free Credit Report Per Year Allowance

Everyone is entitled to one free credit report per year from each of the three credit reporting bureaus, Equifax, Experian and TransUnion according to the Fair and Accurate Credit Transaction Act. These three agencies are the only reporting bureaus authorized by the government to collect and release credit information on every consumer. Different lenders, creditors and other financial institutions report to them for updates on every individual’s credit related activities.

One free credit report per year

The one free credit report per year can be processed at the only website authorized by the government to one free credit report per yearprovide credit reports according to the Federal Trade Commission which is annualcreditreport.com. From there, you can obtain all three credit reports. In order to request for your one free credit report per year, you are required to provide information such as personal details and Social Security number.

When do I need to check my credit report?

Since you’re allowed by law to receive one free credit report year, you might as well take advantage of that benefit even if you don’t seem to need it. You should regularly check your credit report for any inaccuracies and dispute it at once. What if there’s a late payment registered in your credit report when you have paid all your bills on time? That will surely affect your credit score and reliability in the eyes of creditors so be sure that all the information is true. Even information as simple as your personal details can sometimes be inaccurate.

You should also check your credit report before applying for a mortgage, credit card and loan. Creditors will be checking yours to determine how reliable you are in terms of paying your financial obligations. Some employers are even known to check job applicant’s credit report to see how responsible they are.

Can I check my credit report more than once a year?

You can check your credit report as often as you would like but for a fee. After you have claimed your one free credit report per year, you have to pay $14.95 for each report or $39.95 for all three although prices may differ from each credit bureau.

Some people who are conscious about increasing their credit score claim that checking your credit report can leave a mark on your report but this is not true. Only inquiries from others will leave a footprint on your report. You will be able to see who has requested for your credit report in the report itself.

What about my credit score?

Credit scores are a three number rating of your credit report. It ranges from 300 to 850, 300 being the lowest. A computation of your credit report is used to come up with a score. Credit scores are not included in the one free credit report per year. You have to purchase it at the different credit reporting bureaus at roughly $10 for each score.