Free Yearly Credit Report

Posted on May 21, 2015 in Credit Report

In 2003 the Federal Trade Commission passed the Fair Credit Reporting Act which is designed to give consumers a better idea of what their credit history looks like to employers, creditors, and insurers that utilize this information. Contained within this act is the right for every consumer to receive a free yearly credit report from each of the three major credit reporting bureaus; Equifax, TransUnion, and Experian. Monitoring your credit report is a great way to spot identity theft and protect yourself from a low credit rating.

There are several ways to get your free yearly credit report. You can order your report by phone, mail or over the internet. The easiest and quickest way to obtain your credit report is on the internet. Generally your results are provided within minutes of completing all of the necessary forms. Also, since you need to gather a report from each of the three major reporting bureaus doing this online will save you a lot of time and effort.

The FTC has partnered with the website annualcreditreport.com as the only source for your free yearly credit report under federal law. Since annualcreditreport.com is the only government sanctioned website it is recommended that you order your free yearly credit report from this site only. Also, this website is the only site on the internet that will pull your reports from all three of the reporting bureaus simultaneously.

Since each of the three credit reporting bureaus are in business for themselves they do not generally share information with one another. This is why it is extremely important that you pull your credit report from each company so that you are sure to not miss anything that may negatively impact your credit report. If you do see an error on only one of the reports you will need to notify all of the other credit reporting companies as well so the error does not compound itself. Here is a good guide on how you can dispute errors on your credit report.

When gathering your free yearly credit report you will need to get a report from each of the three major credit reporting bureaus; Equifax, TransUnion, and Experian. The best place to get a report from all three companies in one easy step is at the federally authorized annualcreditreport.com website. This website will pull your credit report from all three companies in a matter of minutes, easily allowing you to find any errors on your report or instances of identity theft. Because your credit score is such an important factor when applying for new lines of credit, employment, or insurance it is vitally important that you monitor your credit history closely with a free yearly credit report.

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