subject: Free Credit Report No Fees: Very Useful For The People Who Need [print this page] A little idea about credit report is necessary before any discussion on free credit report no fees is made. Credit report of the borrowers is created by the financial bureaus among which three are very important. They are known as Equifax, Experian and Trans Union. These credit bureaus collect financial operations of the borrowers and their personal details to prepare the credit report separately. The lending agencies, insurance companies and landlords secure the credit report when a person approaches them for loans/mortgages, accommodation and insurance policy respectively. Credit score is originated from the credit report, and credit score describes financial behavior and financial status of the person concerned. On the basis of the credit score, a person is entertained by the lenders, landlords and insurance companies. Hence, free credit report no fees is very important.
A person with poor credit score is refused by the lenders or by the landlords. He is not allowed to buy any insurance policy. This is the first reason for which he should get his free credit report no fees. He has the right to secure his credit report two months after his application for loans/mortgages etc are turned down.
He should get his credit report and verify it minutely, because his credit card may contain mistakes. Mistakes are made when the credit bureaus staff does not work carefully and enters wrong data in the credit report. Sometimes, accounts of one person are used in preparation of the credit report of another person. Sometimes, some written off accounts are not deleted or removed.
It is possible to correct the credit report. The person should report the credit bureaus to note the mistakes and get them rectified. The credit bureaus are to pay attention to the mistakes and they must correct the errors if there is any. They are to offer the person one free copy of the corrected credit report. It is obligatory for the credit bureaus to give a corrected copy of the credit report to all the lenders who have been in transactions with the particular person within previous six months.
The person can secure a free copy of his credit report from the credit bureaus once in a year. He is not required to pay a single shilling for this. The corrected credit report may help him becoming eligible for loans etc. He can, if his credit score is really poor, try to improve his credit report so that he can apply for loans etc in near future. Free credit report no fees is really valuable for him.
