How To Obtain An Absolutely Free Credit Report
Every consumer in America is entitled to receive a free credit report. It’s the law. When you are in need of a loan to purchase a home or want a credit card, it will be to your advantage to know what’s in your report before you apply.
If you find that your report contains negative items in it that might make it tough for you to get the loan you want, you can spend a bit of time and effort to correct those items before you apply. Following through is the key to erasing the unwanted or incorrect items.
There are three major credit reporting companies that most lenders use when issuing credit or processing an application for a loan. Each of the three credit companies has a slightly different result when your name comes up in their system. That’s why it is important to obtain a report from all three companies.
By law every consumer is entitled to send for one report per year. Send for one of each of the three reports each year so that you’ll have accurate reports on all three. That takes three years, though, and there is a faster way.
When you apply for credit and are turned down you will be sent a letter of notification. The letter will have the details about the specific agency’s report that was used to determine your credit worthiness. You are entitled to see your credit report and the reason you were denied credit. Your request must be within 90 days and must be written.
Free credit reports are offered online by companies that sell consumer credit products. In return for your trial subscription to their products, you will receive a free credit report. Most of these companies are selling a product that protects your credit or identity by issuing alerts when suspicious items appear on your credit reports. Some watch a particular credit card for odd activity or unusually large purchases. This gives you the chance to stop activity on your credit before it becomes a problem.
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