Monday, August 21, 2017
 

All About Free Annual Credit Reports

INTRODUCTION
Annual credit reports contain your financial information such as bill payment history, current debt & loan amount, bankruptcy records if any, etc. Other than being a right provided by the law, it is important to see your annual credit reports to ensure no fraudulent activities are going on under your name and verifying the accuracy of your financial information.

WHERE TO GET YOUR FREE ANNUAL CREDIT REPORT
There are only three certified companies allowed to generate your credit reports – Experian, Equifax and TransUnion. You can see one or all of these credit reports for free thru Annualcreditreport.com.

ONLINE:
Visit Annualcreditreport.com and order one or all 3 credit reports for free.

Step 1: Open annualcreditreport.com
Annualcreditreport.com was established by the three certified bureaus – TransUnion, Experian, and Equifax – as a central ordering zone for clients to request credit reports. It is the only site mandated to give out free credit reports.

Step 2: Fill the required information
On the home page, click on request your report now! tab. Under the Fill out form section, enter your details. The basic information you will be required to fill to prove your identity includes;

  • Social security number
  • Date of birth
  • Current address
  • Your old address in case you have moved to your current residence.
  • Step 3: Decide what credit report to order. You can order just one two, or all 3 credit reports for free.

    PHONE:
    Requesting your credit reports by phone is convenient if the internet is not an option. Place a call to 1 877 322 8228 to order your report from any of the three reporting agencies. There is a simple verification process you will go through over the phone to verify your identity. After the successful order, your credit report will be mailed to you in 2 to 3 weeks.

    MAIL:
    The first thing to do is to download the application forms from AnnualCreditReport.com then proceeds to fill it. After ensuring all the information you have filled is correct, mail the form to credit reporting bureau. Your credit report will be mailed to you in 2 to 3 weeks.

    How Your Credit Data Is Ontained
    The three credit reporting companies obtain the information from different sources. The style in which they present the information also varies. For these reasons, the information in a credit bureau report from one agency may appear slightly different from another. It is, therefore, advisable to order all three reports from the respective credit bureaus to check fior these discrepancies. It is especially important if you are planning to make a large purchase such as a house or a car.

    Experian – One distinct feature of this company’s reports is that they usually inform you when a negative report or account is planned to be removed from your credit report. The company also provides each account with an 81-month payment history. Furthermore, Experian can also report on-time rent payments, unlike its peers which list late ones only.

    Equifax – The Company categorizes accounts into open and closed. This makes it easy to review. Just like Experian, it provides each account with an 81-month credit history, indicating whether the account was overdue or paid in each month.

    TransUnion – What makes TransUnion distinct among its peers is its ability to keep most up-to-date previous employment information and address. You are also allowed to correct the employment information on their website once you get the report, but it can’t alter your credit score. Another thing is, they are the only credit agency that reports your monthly payment and balance as a constituent of your credit report.

    Step 4: Verify your identity
    Each credit reporting agency must ensure that you are the one trying to request the report. For this reason, the company you selected in Step 3 will inquire you about your credit history. The questions will be about your credit accounts – how much you owe, when they were opened, etc. – and your previous residence address. In case you don’t recognize most of the questions asked, click on none of the above.

    Step 5: View your report/reports online
    At this stage, you will be able to see all reports you requested online. The companies allow clients to return and view their reports for up to 30 days if they had registered the account. Otherwise, you will view them once unless you print or save them on storage media.

    Required information
    You are required to provide your name, social security, address, and date of birth. Provide your previous address in case you have moved in the period of last two years. At times, you can be asked specific personal information such as your monthly mortgage payment for the purpose of maintaining the security of your files. Since the information contained in your file comes from different sources, the information each company can ask you is different.

    The time duration for the processing
    All orders made at annualcreditreport.com made available immediately. An order made by calling 1 877 322 8228 or filling the application form is mailed to the person requesting them within 15 days. However, your report may delay in case the countrywide credit reporting company requires more information to authenticate your identity.
    What if the information is inaccurate, incomplete or has errors?
    According to FCRA, both the information provider and the credit reporting company are subject to providing accurate credit information about you. You have rights to contact the credit reporting company about the inaccuracies which will be investigated within 30 days. The credit reporting company will forward the updated information or advise you otherwise in case there is no correction to be made. If the company is unable to correct the information, you can request that a statement of the discrepancy be incorporated in your future reports and file.

    CONCLUSION
    Unlike in the past where you were required to fill a lot of papers to order a credit report, technology has eased the process. Most credit reports are ordered online with clients distributed nationwide.

     
     
     
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