How Do I Get Annual Credit Reviews
Federal Law allows all US residents to obtain free annual credit reviews. On this report you will have a set of three numbers that will be your credit score. This number lets others who are considering lending you money know how responsible you are when it comes to paying your bills.
On your free annual credit report, you will find reports that come from the three major credit bureaus in the country. You may know the three by their names Equifax, TransUnion and Experian and the data each contains may be different and will depend largely on the companies who report to each credit bureau. What you will find is that some companies may only report to one of the three, while others will report to all three.
It will be important that when you have the chance to pull your report and check your credit score, you pay close attention to the information that is listed. Annually, millions of people are the victim of scores that are incorrect on their application. In fact, as many as 75% of all individuals with a credit report have a mistake of some form listed on their reports, while 25% of those have errors that are considered severe enough to cost you a line of credit.
When you find an item of concern on your annual credit report reviews, it is your right to dispute its accuracy. It will be up to the creditor to prove that the debt is a valid one. Once the investigation has been completed, if the item was truly an error it will be removed from your report. This instantly boosts your credit rating and you have the opportunity to send a corrected report to those who have pulled your report in the last 6 months so they can review your new credit score.
The information found on your free annual credit reviews will have an impact on your future. It will be important that you keep track of the report every month and ensure anything that appears on it is dealt with quickly, including potential identity theft that can ruin your credit. That way, you can ensure all credit decisions are being made on factual information.