Avoid Getting Tricked When Getting A “Free” Credit Report
In many situations throughout life, a person’s credit score is going to be an important factor in their ability to do something. Whether it is to buy a car or a home, their credit score will decide if they are able to and at what interest rate. Having good credit is going to help anyone while attempting a financial endeavor.
For anyone just starting to track their credit, they may be confused on how to get their credit report. There are options for a free credit check but it is important to watch out for scams, as well.
Get It For Free
There is no reason to pay to get a credit report. The website AnnualCreditReport.com is a free website that is government approved. This website is able to provide a person’s credit report to them for free. There are three main credit report companies and each report can be ordered individually from this site.
To get the report, a person has options. They may go to the website and order one of the three reports from either Equifax, Experian, or TransUnion. There is an option to get all three at once or you can get one at a time. This allows you to recheck the credit score throughout the year.
Similarly, a person may order their credit reports by phone or by mail. There is an application that must be printed out and mailed to request a credit report. For a phone order, a person must have all information available and call (877)322-8228.
The Needed Information
The information that a person must have to order their credit report is simple. Most people know it off the top of their head. No matter which way a person orders their credit report they must provide all of this information. It helps the agency confirm their identity so they are not providing someone else with personal information.
When ordering a credit report the first piece of information needed is the person’s full legal name. The date of birth is also needed. Then the current address of the person requesting the report. Previous addresses will be needed if the person has moved within the last two years. Finally, the social security number is verified to complete the process.
Be Careful With Personal Information
There is a lot of personal information that must be provided to obtain a credit report. This information should not be given to anyone without confirming they are a legitimate agency. By giving this information to a scammer the person is at risk of identity theft.
When it comes to credit report agencies, there are many fake sites. Most of these websites will advertise a free credit service and then ask for credit card information to complete the process. AnnualCreditReport.com is a trusted website and should be the go-to for credit report needs.
Reading a Credit Report
There are many reasons a credit report may be pulled. Banks will use a credit report to determine if a person is worth the risk to approve a loan. Credit card agencies and even insurance agents will use credit to determine the risk a person poses with paying bills on time. When any of these agencies deny a person’s request for a loan or other transaction they are able to get a free credit report.
A credit report is the accumulation of a person’s history in paying back debt. Even if a person has cleaned up their act and has made all payments on time for the last year, those past payments that were missed will still be in the report.
It is best for a person to check their own credit before going to a lender to ask for a loan. If the credit is not high enough, a person must work to increase it. This may take a long period of time. Credit does not go up quickly, but it can drop drastically.
The Difference In Credit and Credit Score
When ordering a credit report from AnnualCreditReport.com it will not include the credit score. This report will simply show how many debts that a person has. It also will show what payments are being made and if they are on time. To get a credit score a person may look at their credit card statements or use a service like CreditKarma. This will give an exact number that is tied to the credit report for a better idea of where the score is at.
Getting a loan can be a difficult process. Many people find that their credit score is the reason they are not able to secure a loan. To avoid this disappointment a person should track their credit closely. Using a free service makes it easy to track payment history and know what needs to be worked on to a improve a lagging credit score.