How can I get a free copy of my credit report?
Q:
How can I get a free copy of my credit report?
A: You can get one free credit
report every twelve months from each of the nationwide credit
bureaus--Equifax, Experian, and TransUnion--by
- visiting www.annualcreditreport.com or
- calling (877) 322-8228.
You will need to provide certain
information to access your report, such as your name, address, Social
Security number, and date of birth.
You can order one, two, or all three
reports at the same time, or you can request these reports at 
various times
throughout the year. The option you choose will depend on the goal of your
review. A
report generated by one of the three major credit bureaus may
not contain all of the information pertaining to your credit history.
Therefore, if you want a complete view of your credit record at a particular
moment, you should examine your report from each bureau at the same time.
However, if you wish to detect errors and monitor changes in your credit
profile over time, you may wish to review a single credit report every four
months.
Posted at 03:12PM Jan 05, 2011 by Louisa Ward & Robyn Viktor in Real Estate | Comments[0]
Site to See: Federal Reserve's 'Credit Reports and Credit Scores'
by Broderick Perkins
There's a new source of credit score and credit
report information in town and it doesn't try to sell you related services or
use content to generate ad revenues.
While the federal
government would like to sell you on the idea that it's on your side -- and
convincing you your government is working for you often does take a bit of a
hard sell these days -- the Federal Reserve's new credit score and credit
report web site is worth the taxpayer dollars that
financed it.
"Consumer's Guide to Credit Reports and Credit
Scores" is a compendium of
advertisement-free credit report and credit score content that earns the Feds a
high score.
Among independent
sources of like information, perhaps only Consumer Reports and AARP offer similarly robust,
independent information without a sales pitch.
Along with practical
answers to questions about credit reports, credit scores, and the importance of protecting your credit history, the
Fed's free online guide explains the contents of your credit report, tells you
how and when a credit score is used, and discusses the role of credit bureaus
in collecting and sharing your credit history.
You need this information
because it can make or break you when it comes time to get a mortgage, personal
loan, insurance, a job, or whenever some
entity needs to determine if you are creditworthy.
If you are approved for
financial services, your report and score also determine home much it's going
to cost you to obtain credit and other financial services.
The Fed's web site
reveals how you can improve your credit score (and lower
credit costs) and it offers step-by-step instructions to help you correct an
error on your credit report -- not an uncommon job for credit-active consumers.
What's more, the site
couldn't have gone live at a better time.
Lenders are squeezing
consumers for the best creditworthiness ever, just as the Feds are rolling out
two related landmark regulatory overhauls for the greatest consumer protections
ever and long overdue finance industry scrutiny.
Your credit standing is at stake.
One is the "Dodd-Frank Wall Street
Reform and Consumer Protection Act of 2010" (known as "Wall Street Reform"), which is
heavy in mortgage lending rules.
Good credit scores are
crucial to landing a mortgage, getting your mortgage refinance and getting a
home equity line of credit or second mortgage.
The other regulatory
newbie is the "Credit Card
Accountability, Responsibility and Disclosure (CARD) Act of 2009" and the site is embedded with related information: "New Credit Card Rules
Effective Aug. 22, 2010" and "New Credit Card Rules
Effective Feb. 22, 2011" to keep you apprised.
The new credit card
rules heap on new and extensive disclosures credit card issuers must reveal to
you and they limit the fees, interest rates and other charges credit card
issuers can levy.
But it's still up to you
to do the right credit thing and the site offers some pointers.
For example, to improve your credit score:
• Get copies of your credit report -- then make sure information is correct. The site
tells you how.
• Pay your bills on
time.
• Understand how your
credit score is determined. The new site tells you.
• Learn the legal steps
to take to improve your credit report. Again, the information is online.
• Beware of
credit-repair scams. The web site keeps you up to date.
Also to get the most out of your credit card, the
site advises:
• Again, pay on time.
Don't be a deadbeat.
• Stay below your credit
limit. How much below? Visit the site.
• Avoid unnecessary
fees. You'll learn online which ones to avoid and how to avoid them.
• Pay more than the
minimum payment. The more the better.
• Keep tabs and watch
for changes in your credit card terms. Credit card companies continue to look
for loopholes so they can take you to the cleaners -- for a fee.
The site is new and
fresh with the latest government regulations dovetailing into your responsibilities,
indicating it's not just up to the law to make sure creditors do the right
thing.
You pay taxes for this
kinda information. Pay attention.
Bookmark it.
"Site To See" is a DeadlineNews
Group series of reviews of
content-heavy websites deemed unique, consumer-friendly, informative and easy
to use.
Published: December 30,
2010
Use of this article
without permission is a violation of federal copyright
laws.
Posted at 02:55PM Jan 05, 2011 by Louisa Ward & Robyn Viktor in Real Estate | Comments[0]
