One of the most common unaccomplished New Year’s resolution in the world is to spend less, which we all know is easier said than done; but there is one thing we can do yearly to keep our finances under control especially our credit and that is through a free yearly credit report.
Many people underestimate the benefits of a free credit report, but there are more who are not even aware this government provision. As of September 2005, the government has passed and implemented the Fair Credit Reporting Act (FCRA) that requires authorized consumer reported agencies namely Equifax, Experian (formerly TRW), and Trans Union to provide annual credit reports to everyone or to the consumers who file requests for theirs.
Manage Your Expenses with Free Yearly Credit Report
Credit reports can help you monitor and keep your expenses and financial budget in tact in several advantageous ways. Aside from that, you also get perks from maintaining a good credit history.
A yearly credit report can help you substantiate your financial status when you apply for a loan or even a job. Thanks to the government-backed benefit, you can prepare for possible financial shortcomings and be able to save yourself from going bankrupt. free yearly credit report
Your credit report keeps you abreast of your previous and current credit and loan transactions. Updated of your credit related finances, you’re now able to keep a good credit score that is if you pay your dues on time. And lastly with a yearly credit report, you will be informed of payments of your bills and other credit transaction, which you can verify for clarifications, if necessary. Just knowing you paid your bill online isn’t sufficient because sometimes there’s a possibility of glitch somewhere in the system and it might happen that your payments were not reflected in your credit report.
Great Things About Free Yearly Credit Report
Aside from the benefits mentioned above, there are other great things about obtaining yours to consider:
- It’s completely free. No charges, no additional information.
- Everyone is entitled to a free yearly credit report.
- Easy to access and fill-up.
An annual credit report takes only minutes when you request it online but still it takes only a fairly short period of time if requested through phone or mail. No hassling paperwork. You simply have to input the information required of you—no, it’s not about your credit card details, just the basics to verify your identity because not just anyone can get your own free yearly credit report. You can inquire about your free credit report anytime so long as it’s once every twelve months. And no matter how many times you check and inquire about it, it won’t hurt your credit score at all.