How To Get Your Very Own Copy Of Your Credit Report For Free

Getting your own copy of your credit report free of charge is quite easy - as long as you live in America

. By law, every credit cardholder is entitled to a free copy of his or her credit report each year.

Back in the day, however, this was not the case at all. It was just in 2003 when the Fair and Accurate Credit Transactions Act, or the FACT Act, was formulated and implemented. The implementation of this act allowed people to save a lot of money, for each requested copy cost cardholders roughly $10.

The 3 major credit reporting agencies in America, namely TransUnion, Experian, and Equifax, are all mandated by law to provide any cardholder who files a request for their free annual copy. Because of this mandate, the 3 agencies now use just one central source where credit cardholders can then request for their reports. The great thing about this central source is that it comes with its own website on the internet, a postal address, as well as a landline number. This ultimately means that cardholders can file their requests via the website or snail mail, or even by simply calling the registered number.

Before you do file a request though, you should learn to make responsible use of the 3 options you have. Be prepared to provide the pertinent documents that might be asked of you. The 3 agencies do have their own security measures in gauging whether or not the requestor is indeed the authorized cardholder. Still, there are loopholes that you have to be wary about - particularly when it comes to identity thieves.

As long as you file for just one copy in a year, you will not be charged any fee for this. This is your legal right as an active credit cardholder. However, this does not mean that it is perfectly all right to file for a copy of your credit report just once a year. For security purposes, it is actually recommended to access credit reports 3 or even 4 times a year. The reason for this is to maintain close check on your financials so that you can see for yourself if there are any discrepancies on your report. Early detection of these discrepancies makes it easier and faster to correct them. Thus, do not rely on just that one free instance of accessing your credit report. Go for 3 or 4 times and make sure to spread them out evenly during the whole year.

by: Leo Chu

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