Summary: According to the Federal Trade Commission a credit report is a summary of your personal credit history that includes payment history, loans, lines of credit, bankruptcies, collections, credit score, etc. Federal law gives each person access to a free credit report from each of the three major credit bureaus every year. The three credit bureaus are Equifax, Experian, and TransUnion.

How: You can go to Annual Credit Report to get your free credit report from each of the three agencies. This website is the only authorized website to fill orders for an annual free credit report. Federal law gives you the right to get a free copy of your credit report every 12 months. Until December 2022 everyone can get a free credit report each week from all three credit bureaus.

Why: Knowing your credit history and score is a necessary step to obtaining or keeping a good credit score. It allows you to borrow money at a better interest rate, receive better car and home insurance rates, get a line of credit, skip utility deposits, rent a home, or even get a job. Auditing your credit report regularly allows you to verify there are no mistakes on your report and that you aren’t a victim of identity theft. If your credit report is inaccurate you should dispute the inaccurate information with each credit bureau who has inaccurate information. The following is an article to get you started from the Federal Trade Commission if you need to dispute an inaccuracy on your credit report. FTC Error Dispute Article

Keeping apprised of your credit report is a necessary step to stop identity theft and keeping your credit history accurate. If you have any questions or need assistance with your credit report please feel free to contact us.