Get a Free Credit Report

You are, by law, entitled to get a free credit report on an annual basis. Since 2003, there has been a law on the books called he Fair and Accurate Credit Transaction Act that states this fact. Now, there are three national agencies that may have a credit report on you, so be sure you get your report from all three of them every twelve months. It does not have to all be in the same month, just twelve months apart from the last time it was requested of each of the agencies.

The Law was passed because Congress agreed that you should not have to pay in order to view your credit report for discrepancies, errors or fraudulent activity. There is so much identity theft out there, it is your right as a citizen to make sure it does not happen to you. You should not have to pay for that peace of mind. As of 2003, you don't.

Here are three ways you can get a free credit report:

First, each of the three reporting agencies have forms you can download off their websites.
They are Equifax, Experian and Trans Union. You can go to each site or just go to www.annualcreditreport.com to order.

Next, you can call toll free 1-877-322-8228 and request information on how to get your reports at no cost to you.

Or, you have the option to get the reports from the Federal Trade Commission (FTC) through their website at www.ftc.gov/bcp/conline/include/requestformfinal.pdf. If you link gets lost, write to them at Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. Sometimes the old fashion way is best.

Using one of these ways can guarantee you will get a free credit report. That way you do not have to pay an annual fee or become a member of any organization in order to get them. There are ads on TV, online and in magazines that claim they can get you your reports if you join their organization. In other words, the reports really are not all that free.

Do not be fooled by the sites on the web that claim they will get a free credit report. How would they make money if they did? How would they pay to advertise that they could get the reports? First of all, these companies have to pay in order to belong to these reporting agencies and have the privilege to get the reports. Secondly, they have to pay the employees to get them. Hmmm.
You can bet if they are offering the reports "for free" there is a catch.

There is no reason to pay for your report unless you get it more often that every 12 months. There may be reasons to do so. It is a good idea to get a copy of all three of your reports before you go for a loan or open a new line of credit. That way you can decide if it really wise to do so and how doing so may affect your scoring.

Or if there has been fraudulent activity, you want to make sure it is eradicated. Getting your report more frequently is one way to stay on tip of the progress that is being made to resolve the damage that may have occurred.

But, if you are just interested in monitoring your reports, why pay for what the law says you can get for free? So get a free credit report and keep your eye on your credit history.