Free Annual Credit Report: Check Your Credit For Free!?

Answer 1

The federal government is now allowing consumers to obtain a credit report once a year, absolutely free. This is meant to help consumers become aware of their debts and any negative aspects on their reports, while keeping themselves safe from identity theft. This free credit report includes information from the three major credit bureaus, TransUnion, Experian, and Equifax, and is a great resource that every consumer should be sure to take advantage of.

Why Obtain A Free Annual Credit Report?

By obtaining a free annual credit report, consumers can gain a better understanding of their current credit standing. A free credit report can help consumers become aware of any negative aspects on their reports. Once a consumer understands which aspects of the report he or she needs to improve, he or she will be more equipped to begin working toward better credit. In addition, by receiving a free report, consumers will be able to identify and correct any incorrect information on the report. Since a person’s credit history is so important when obtaining a home loan or any other loan, it is very important that all information on one’s credit report is correct.

In addition, identity theft is a very serious, and unfortunately common, problem in the United States. Adding to the problem is the fact that many Americans are not aware that their identity has been stolen until it is too late and they are thousands of dollars in debt. By viewing a credit report at least once a year, Americans will at a greater advantage to catch and put a stop to any fraudulent activity.

Do I Need To Check My Credit More Than Once A Year?

If a consumer is working towards improving their credit, he or she may need to obtain more than one credit report per year. When regularly viewing their credit report, consumers are able to more effectively correct negative aspects of the report, while seeing how their efforts are making a difference. In addition, to further protect against identity theft, it may be advisable to obtain a report several times a year. This allows consumers to identify any fraudulent activity before an impostor has had a year to accumulate debt. However, if receiving regular credit reports is not an option, consumers may benefit greatly by simply receiving their annual free credit report.