Annual Credit Report
President of the United States, George W. Bush
on 4th December, 2003, made the Fair & Accurate Credit Transactions
(FACT) act a law which allowed all American nationals so as to allow
all Americans to be able to monitor their credit reports & credit
rating too.
This act gave each & every American free access
to a single credit report of their annual monetary transactions
so that they can have a look and monitor the trading and also see
what the agencies that are managing credit report were rating them.
This act has proved to be a path breaking act that allows people
the opportunity have a view of what their lenders can see.
Correct the discrepancies on the report of credit
transactions if any, have a copy of their credit so that they can
monitor and prevent any wrong doings from taking place that could
in the long run spoil the credit worthiness. Prior to this act coming
into existence the only people having access to report were the
agencies that reported a credit and the lenders but those who took
the credit had no access at all. You have the option of getting in touch with any
of the 3 agencies Internet address at - http://www.transunion.com,
http://www.equifax.com
& http://www.experian.com
for that valuable credit report. The system is easy to use and shall
show you how to get a free print out of your credit report. But
a much simpler task will be to go to www.annualcreditreport.com
or www.freecreditreport.com.
The site shall show you the way of choosing the
agency of your preference and all the processes are defined and
taking a print of your own report of credit transactions is a simple
task. The tasks are related to your individual identity and a few
simple questions that process and take you to exactly where your
individual information has been stored on their database. If all
is found to be matching with their records then in a short time
that much wanted credit report shall appear on the PC screen, it
allows for you to have the option to save it on the PC and as per
wish you can also have a print out.
It is of vital importance that you use the report
to your advantage in which ever way possible as you have attained
that good credit rating by paying all credits on time, if in case
you have done so. Thoroughly check for any discrepancies that might
occur in the report as it might be the main difference between getting
an instant loan or a 'on your face' no from the creditors. By now
it must be pretty much clear to you that this credit report is like
a complete reflection of your credit borrowing history, good, bad
or even ugly.
This tool of a yearly credit report is an advanced
tool in the hands of a consumer when ever a credit opting like situation
arrives. Not making appropriate use is like not using facilities
of your own money by will.
|
