Recently, an amendment was passed which allows consumers to have a free credit score report on a yearly basis by the major credit bureaus. However, there are a number of things that you have to keep in mind when applying for your free report.
Personal Information and Its Verification
A number of websites allowing you to access a free copy of your credit score report require personal information for the verification of your account such as address, date of birth and social security card information. However, be sure to access your “free” report from a reliable website as analysts have rated cyber crime to be one of the fastest rising crimes.
Conditions in the Fine Print
Some websites have visually appealing options for copies of credit score report that actually end up being premium options. Be careful to clearly read and go through all the fine print before giving out valuable information.
Your Copy can differ from the Lender’s Copy
As there are a number of websites offering free copies of credit score reports and only three major, federally approved credit bureaus; the copies issued by these bureaus may vary from the information obtained from a random website. It is highly likely that the individual’s copy and the lender’s copy may differ from each other.
Check Regularly For Updates
In order to get a better understanding of your credit history, it is a wise decision to keep yourself updated about these scores. Analysts believe that keeping track of credit score eventually leads to improvement in the score as people are more aware of how their daily financials are affecting the score.
Act Accordingly
According to surveys conducted by Credit Karma, 1 in 3 Americans barely check their credit reports as 1 in 4 consumers who check these reports find minor, fixable errors in them. The credit score is ultimately affected by these errors and if Americans check these reports, they can fix errors and improve scores in a timely manner.
Trust AnnualCreditReport.com
This website provides a copy of the credit report every 12 months on the basis of information provided by the major three bureaus, Equifax, Experian and TransUnion. These reports provide valuable insight into minor mistakes of address and contact information and getting a report from each of these bureaus allows one to fix these mistakes, eventually improving credit score.
