How to Get Your Free Annual Credit Report

Unfortunately the
holiday season usually brings an increase in credit card fraud and
identity theft, so right after the holidays is a great time to check
your credit report.  Following is why, when and how to check your
credit report…

Why you should check your credit
report

• to check for errors
• to check for fraud and identity
  theft
• to get the best interest
  rates
• more and more people are relying on
  credit scores – car insurance, employers, etc.

When to check your credit
report:

• Once a year if you have good credit
  and don’t anticipate any large purchases in the near future
• Before a major purchase, such as a
  new home, new car, etc. – should request your credit report 6 months ahead of a
  big purchase so you have time to correct any errors
• If you’ve been denied a credit card,
  loan or other product or service because of your credit (you are entitled to a
  free credit report if you have been denied credit based on information found in
  your report)
• If you suspect that your identity
  has been stolen
• If you are starting a plan to get
  out of debt or repair your credit.

How to check your
credit:

There are three credit reporting agencies (Equifax, Experian and
TransUnion), and they are required to provide you with one free credit report
each year.  The three agencies do not always share the same information, so it’s
important to check all three. 

You can order all three credit reports at
one time, but it may be a better idea to check one company one month, wait a few
months, then check another company, then the third company a few months later. 
This way you are getting three free credit reports a year, and you are checking
several times a year, so you are more likely to catch errors and/or
fraud.

Go to www.annualcreditreport.com to
request your free credit report online.  This is the only authorized source for
consumers to check their credit report online for free.  There are commercials
and websites for other companies who claim to offer your credit report online
for free, but they are generally selling a service or they are a scam.

In
addition, you can call 1-877-322-8228, or you can write for your free credit
report at: Annual Credit Report Request Service, PO Box 105281, Atlanta, GA
30348-5281.

Finally, you can purchase a 3-in-1 report, which is basically
getting all three reports from each of the credit bureaus.  This is a good idea
if you have never requested your credit report before, or if you suspect fraud. 
You can purchase your 3-in-1 credit report at www.myfico.com.

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