Where To Go For Your Free Credit Reports
Credit Reports
If you were to tell an individual that they can have a certain particular item free of charge, more than likely their reaction would be, “what’s the catch?” In the case of credit reports there's no catch, you can now get a free copy of this report through the three credit reporting agencies: Equifax, TransUnions, and Experian. Let’s take a look at the law and how you will be able to benefit from it.
An amendment to the federal Fair Credit Reporting Act (FCRA) requires the three national credit reporting agencies to provide one free copy of your credit report to you annually. Beginning on December 1, 2004 and culminating on September 1, 2005, the Federal Trade Commission is requiring that these agencies offer reports on a rolling, phase in basis. In additional words, on December 1, 2004, if you live in certain western states you became eligible at that time and every three months later additional states were added. By September 1, 2005, residents of all states are eligible.
Fortunately for consumers, you need not contact the three reporting agencies separately to obtain your free credit report. You'll be able to order right online at www.annualcreditreport.com; or by calling 877-322-8228; or by filling out the Annual Credit Report Request Form and mailing it:
Annual Credit Report Request Service P.O. Box 105281 Atlanta, GA 30348-5281
The form is available online where you can print it out and mail it in: www.ftc.gov/credit.
If you need copies more often, you'll be able to contact the three reporting agencies and request copies. You will have to pay for this service.
To buy a copy of your report, contact:
Equifax 800-685-1111 www.equifax.com
Experian 888-EXPERIAN (888-397-3742) www.experian.com
Trans Union 800-916-8800 www.transunion.com
There are also individual companies who will obtain all three copies of your credit report for you also. There's a fee involved, but you may find their services to be less of a bother than contacting the three companies individually.
So, how can you benefit from the law? By ordering copies of your reports from the companies on a four month rotating basis. Most consumers will find this plan to be sufficient and it will allow for you to compare/contrast the reports of each agency. Naturally, if you already suspect fraud you'll want to order all three reports right away and notify each agency to place a "fraud alert" in your credit file.
All in all, the new law is a big win for consumers. Capitalize on this "windfall" as soon as you become eligible to do so.
About the Author
Jake Avey has studied credit repair and debt issues and offers resources for people looking to fix their credit scores and take advantage of lower lending rates. He has helped people save money off their monthly payments and to get back on their feet. For more information, visit http://www.followmysuccess.com/creditrepair
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