Who would have thought a totally free credit report existed? Well, with the current lifestyles nowadays, everyone has their mind set on the phrase “nothing is free in this world”, which is technically true. But if you tried harder like being less apathetic and participated more in our society, you’d find out all the benefits the state and the government has laid out for us.
Aside from having the right to vote, we are actually entitled to a free credit report every twelve months. If you do not still understand what I am saying and think that so what if there’s a free credit report, then read on.
A totally free credit report is a legal document that states confidential information about you such as your address, your employment, your finances, and even whether or not we are being summoned by the court or being sued is placed in a credit report. .A credit report is also commonly called a credit history because it contains a summary of our all our credit transactions such as bill payments and loans.
Thanks to the government, the Free Credit Reporting Act (FCRA) was passed and implemented since September 2005. The Free Credit Reporting Act requires the credit bureau and the all credit reporting agencies namely Equifax, Experian, and Trans Union to supply consumers with free credit reports annually. One thing about a totally free credit report is that it has perks—benefits that only the government can manage to make available for us citizens.
Three Reasons Why A Totally Free Credit Report is Great
If you are still unconvinced then read on still to be enlightened on why a totally free credit report matters and why you should care about it.
- The first most obvious reason is that it’s entirely free. No surcharges, no filing fees. It’s free because it is part of your rights, meaning every citizen and consumers alike are entitled to one credit report every year. A credit report is given only every twelve months to ensure its accuracy and consistency.
- Second, a credit report is the best way to look at your current financial statues and find out whether you can still avoid bankruptcy, improve your credit score or even make a loan. It’s the best way because every credit transaction you’ve made is already there. You don’t have to trouble yourself by going through all those old receipts.
- Third, a credit report has a system of keeping credit score. This is a perk if you are maintaining a good credit score; otherwise bad credit points can affect you in many ways. Your future loands and/or job applications will take your credit score into account because many employers assess aspiring applicants through their respective credit history or credit reports.
Secured Means to Get A Totally Free Credit Report
Now that you are fully aware of the basics on a totally free credit report, the next thing you have to do now is inquire about it and request one if you haven’t done it yet. There are many ways to get a hold of your credit report but one should be cautious because there are a lot of sites and agencies lurking with scams. To be on the safe side, stick to these recommendations:
- You can go and visit the website of Annual Credit Report to request for your free credit report. Annual Credit Report is the official website duly provided by the government for consumers to avail of their free credit report.
- You can also contact any of the three credit reporting companies authorized by the government to issue free credit reports to consumers. These agencies are Experian, Equifax, and Trans Union. You may visit their respective websites or call them to request for your free credit report.