Yearly Credit Report For
Free
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 access to
one free single copy of their credit report once a year.
This law came in existence due the unabated increase
in theft of identity and the want of citizens to allow them free
access to see/monitor/check their credit reports. This is path breaking
in the sense that a person is today able to have the same view of
his credit report as the creditor can.
One can check for discrepancies in the report,
and have full access to his credit that allows his to know the direction
of his credit correct it from going out of control. Prior to the
act coming into effect only the agencies who report credit and the
creditors had access to this information and the people who took
the credit were being left out.
You have two options on ways you can get access to this information
and that too for free but remember its just one copy per year. The
1st option is to go straight to the Internet sites of the agencies
who report credit.
There are 3 agencies that work as credit reporting
agencies namely TransUnion, Equifax & Experian. Internet address
at - http://www.transunion.com,
http://www.equifax.com &
http://www.experian.com
When you reach the site you shall be asked some
individual question and give proof of who you are so that the site
can search for your credit report from their huge database. If your
response is matching with their records then the credit report shall
appear on the screen, it allows to save the report it on the PC
and when required a print out is there.
The 2nd way of having the yearly free credit report
is by either visiting www.annualcreditreport.com
or www.freecreditreport.com.
The site will however be directing to one of the
3 site of the agencies that report credit, but there is a slight
difference in the way of processing as these two sites have a relatively
easier method of reaching your yearly free credit report.
It is of vital importance that you use the report
to your advantage & also on receiving it check for discrepancies
if any. 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.
Another important aspect of checking one's yearly
free credit report is that check for any news that is not of your
jurisdiction. It can happen to anyone, therefore keeping your eyes
wide open in case of the errors relating to a mortgage that you
didn't apply for or a credit card you didn't know off could reflect
in your credit report.
The yearly free credit report is a complete consumer tool when ever
a credit opting like situation arrives. If you opt to not use it
then you are letting to a vital part of your credit worthiness.
you have earned the hard way, so get your yearly
free credit report right away. It will surely help you!
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