Get the credit
you deserve
Credit reports now FREE
from big-three credit agencies
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Prepared by the pearlrepublic.com editorial staff
“Credit rating” seems to be the buzz word these days. But, what exactly is a credit rating?
You know you pay your bills on time, so your rating must be good, right? But just how good and what does it all mean? How is your credit rating established and how do businesses go about finding out just what your credit rating is? And, most importantly, how does your credit rating affect your ability to buy a car, a house, obtain a loan, a credit card or even seek employment?
There are three major consumer credit report companies that provide lenders or businesses with a report containing your personal credit history and rating. The three companies are Equifax, Experian, and Trans Union. Each company obtains your personal information through various sources such as your mortgage company, landlord, or retail and/or worldwide credit card companies. They then sell this information to creditors, employers and other businesses that need to evaluate your credit history.
Revealing the deep dark “secret”
Up until recently, your credit rating/report was a deep dark secret unless you wanted to pay one of these consumer credit report companies up to $40. or more to reveal this “secret” to you. But now the Federal government has made it possible for you to obtain a copy of your credit rating/report once a year for FREE. This is great news because now you can see first hand just where your credit status lies.
But a credit report doesn’t just give a “good” or “fair” rating. Nor is it just a number scale from one to ten. Instead, it provides you with a wealth (excuse the pun) of information about your spending habits and personal activities such as law suits or bankruptcy; information that businesses look at when processing your loan or credit card application, or offering you employment.
You can use this report as a tool to adjust or address issues that you may not even be aware of. For example, you may have a credit card that you haven’t used in years; a card that you may have obtained from a local store where you used to live. Even though you haven’t used the card in many years and may have even forgotten about it, the card is still considered “active” and because of its active status, it can negatively affect your credit rating.
Also, by being able to review your report you may find information in it that is false or incorrect and consequently has affected your credit rating. You would never know this without access to your report. Now that you’re able to see your own personal report for FREE, you can go forth and make the necessary corrections or adjustments, and thus improve your credit status.
Obtaining your free credit report is very simple. Just add this address to your browser window:
www.annualcreditreport.com (or call 1-877-322-8228)
This is the ONLY site where you can obtain a credit report for FREE.
Then click on your state of residence and follow the simple instructions from there. You will first choose the consumer credit report company from which you wish to receive a report. Depending on which company you choose, you will be required to give personal information such as your Social Security number, credit card numbers, mortgage account number, past addresses, etc. So have this information at hand before you proceed with ordering your report.
When you’re on this website, take special note of “free” report offers from companies that charge an upfront or monthly fee.
One such company is freecreditreport.com. These companies are really asking you to subscribe to a credit monitoring service which, as the average consumer, you do not need.
Once you have the necessary information handy, the steps needed to obtain your credit report are quick and simple.
| After your report appears on line, we recommend the following: |
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Be sure to have your printer on, in good working order and loaded with plenty |
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of paper as the report may be over 20 pages long |
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Print in LANDSCAPE mode |
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Go through your report slowly and carefully, line-by-line |
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If the report you requested is in good standing, request a second one from |
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another consumer credit report company in four months, and a third from another consumer credit report company in eight months. This brings you back to the starting point with the first consumer credit report company in 12 months. The dates of the reports should be at the bottom of the report pages. |
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If the report you requested shows problems, then print a second report from |
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another consumer credit report company and compare as best you can. |
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Report any mistakes immediately and provide documentation. |
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CLOSE all accounts that you will not use. All open accounts count against your |
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credit rating, so it is best to close the ones you don’t plan to use again. However, be sure to keep a few accounts active to show payment history. |
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Pay close attention to those persons/companies who have requested your |
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report. If your report is good, you most likely have been receiving credit card offers from these companies based upon a good rating. To eliminate some of this junk mail, there are a couple of options you can take. One is to go on line to www.optoutprescreen.com and follow the simple instructions on the site. Or you may call 1-888-567-8688 and follow the instructions given on the phone. With either option, be prepared to give information such as your name, address, Social Security number and date of birth. We strongly recommend “opting out” of receiving all of this junk mail. By doing so, it will help eliminate ID theft and personal credit fraud.
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Act today and take charge of your credit status and financial health. Be proactive and get the credit that you deserve ! Whether you are just beginning your career or midway to retirement, these free credit reports could be invaluable in defining (or refining, if need be) your life and your goals.
Check back to this page often. As we hear from customers and visitors we will bring additional comments and advice to you.
You are welcome to print this page and distribute to family and friends. Or refer them to this website
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