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Free Annual Credit Report
Your credit report and score are among the most
valuable life tools you have. With an error free report you can live in freedom
from the terror of identity theft; and with a high credit score you have a powerful
foot in the door for negotiating low rate loans, lower insurance rates, and job
opportunities. With so much at stake, it seems only natural that you, the consumer,
should have an open door for maintaining these financial tools at the highest level
of accuracy. It seems so simple, and the fact of the matter is that with the
Fair and Accurate Credit Transactions Act
(FACTA) of 2003, it’s getting simpler.
Free Annual Credit Report
 One of the most significant provisions of FACTA,
according to Weston, is the right to a yearly free credit report. Experts have recommended
for years that consumers get their credit report annually to check for errors because
through your credit report you will get the first indications of identity theft.
But until recently, the three largest credit reporting agencies have charged a fee
for a report.
Now that it’s available for free, consider setting a yearly date—perhaps tax day,
the first day of winter, or even your birthday—to easily and cheaply follow the
experts’ advice and in the process prevent the headache of recovering from identity
theft. Some experts also suggest that you get one of your three free reports every
four months (each credit reporting agency issues a unique report). This strategy
allows you to stagger your reports throughout the year and is a further safeguard
against id theft.
You Have the Right
- To be told if information in your file is used against you.
- To know what is in your
- To ask for a credit score
- To give or not to give your consent for your report to be shared with employers
- To dispute incomplete or inaccurate information
- To limit prescreened offers of credit and insurance you receive
- To seek damages from violators
- To have credit reporting agencies correct or delete inaccurate, incomplete, or unverifiable
information
- To not have outdated negative information reported
- To limit access to your file to those with a valid need only
The easiest way to obtain your free credit report
is to go to the web site
AnnualCreditReport.com.
It is sponsored by the three big credit reporting agencies—Equifax, Experian, and
TransUnion. It is important that you do not go to the individual reporting agencies
sites because from there you have to sign up for a free 30 day trial to get your
free report; but if you don’t opt out of the service before the 30 days is over
they will automatically begin charging you the monthly fee.
Through
AnnualCreditReport.com, you can request
a report online, download the request form and mail it in, or simply make a phone
call and go through a simple verification process. Expect to answer some questions
only you should know about information in your credit file as part of the verification
process online and over the phone. Keep in mind that according to the FTC web site,
AnnualCreditReport.com will not request personal information through e-mails, phone
calls or pop-up ads, so if you receive any of these stay on the alert for fraud.
You are entitled to reports from other companies
that develop reports as well. To review your medical records or payments Weston
recommends getting a free report from The Medical Information Bureau.
If you want to review your residential, employment, or insurance claims history
then you can request a free report from
ChoiceTrust.
Article excerpt provided by
By Amy L. Cooper Arnold, CardRatings.com Credit/Debt Management Reporter
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