Why Is A Free Credit Report Important Learn What You Need To Know Now
Credit reports are important tools that help us avoid identity theft and other complications
. Reports are available at no cost and can help save your financial future.
If you are an American citizen then you are graciously entitled to up to three free credit reports on a yearly basis. It is wise to use these three throughout the year and not all at once. In previous years the credit reports were around $10 each. With free credit reports available, citizens are able to determine their credit standing before they apply for a loan or credit card. This reduces the likelihood that they will apply for a loan and then get denied.
Equifax, TransUnion and Experian are three of the main companies that are required to offer you a free report each year. To obtain these you must do one of the following:
* Call a special 1-800 number to set up a request for a free report.
* Visit one of the websites and fill out a form for a free credit report.
* Or email the company at a designated email address, or send a letter requesting a report.
These reports will list detailed information regarding your payment history and accounts. This includes all credit card accounts, loans, and bank accounts. If you have good standing then your credit score is likely very high and in positive standing. If you have some issues or minor debts then your score is probably in a moderate to average range. If you have several problems with your accounts then your credit score is probably very low and will likely cause high interest rates for you financially.
Be Careful
When looking to get a credit report you should always avoid the websites that look suspicious. These may be scam sites that are designed to steal your identity and cause even more financial problems. If you have any doubts refer to the government website for more information on getting a free report. No one should be subjected to identity theft through a site that is seemingly innocent. Watch out for typos and errors in the websites. These are signs that they are not reputable and shouldnt be trusted with your information.
What Else is On My Credit Report?
Credit reports may also contain valuable information about your medical past. This information isnt as detailed because it is highly confidential. However, insurance companies are able to see this information and determine if you are committing insurance fraud. Be careful with this because you do not want to get caught lying about your medical past.
Check writing history and other claims are also on your report. Everything you do that is considered a financial move is on that report and should be closely monitored. Impersonators can easily steal your information and ruin not only your credit score, but get medical care under your name and write fake checks with your identity.
by: Paul Richerd
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2024-12-4 15:34
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