In the United States you are entitled to one free credit report each year. There are in fact three main credit bureaus, Equifax, Experian, and TransUnion. They simply store your credit information which is provided to them by banks and other financial institutions. This includes hydro and gas utility companies.
To request your yearly credit reports you can simply email or call each company individually. In some circumstances you are entitled to additional credit reports. These special circumstances include if your credit application was turned down or if you are unemployed and looking for work. Additionally if you are a victim of identity theft you are able to view your credit reports provided you have reported the theft to the police.
One thing you should be aware of is that your credit reports and credit scores are two separate things. Your credit scores will not appear on your credit reports. To find out your scores you need to pay each of the three companies a fee to access this information. You should never take a chance with thinking that your credit reports are safe and accurate.
Each year you want to carefully look at each credit report. It only takes one small detail to ruin your credit score and have to go through the process of rebuilding your credit.
So many employers today look at your credit reports, so an inaccurate report might have you being turned down for a job. If you want to have the best chances of finding a new or better job you need to have your credit reports in order. Discovering errors and mistakes on your credit report can be a sign of identity theft. Monitoring your report can save you the frustration of having to solve identity theft issues. This can be a long and drawn out process which should be avoided at all costs.
Maybe the biggest reason for keeping abreast of your credit report is to keep your credit score in good standing. This way when you apply for a mortgage, car loan or a new credit card you can be certain that your application will not be denied due to errors on your credit report. There are plenty of services available which will monitor your credit report. If they see any unusual or suspicious activity they will raise a red flag.
With an increased use of debt and credit cards this might be a very worthwhile investment. You will be protecting your credit report each month and this will give you a sense of security. For more information on credit reports and credit scores give us a call today.
Call us for a FREE credit consultation (646) 396-0448
Take control of your credit now! While you continue to wait; the great deal on that car you wanted will be over; the house you dreamed of will be sold; the job you had your heart set on, will be given to someone with a better credit score. Nothing is ever gained by procrastination. Start Your Journey on the Road to Good Credit Today!