Is There Such A Thing As A FREE Credit Report?
By Mike Wayman
You would think that since your credit report is all about you and your personal credit and spending history, you would easily be able to obtain a copy of the report when you wish to. While in theory this is the truth, it is sometimes easier said than done. However, you are legally entitled to a free copy of your own credit report once every year, and it’s not impossible to obtain one.
The Annual Credit Report Request Service, or “ACRRS”, was established to address the rights of American citizens to have annual access to their credit reports. Until 1989, it was not even considered a legal right to view your own credit report, so this was a large step forward toward protecting the rights of American consumers who want to be aware of their own financial standing. The three major credit reporting agencies, Equifax, Trans Union, and Esperian set up the ACRRS to allow Americans to gain access to their personal credit histories.
It should be remembered that potential employers and any lender you apply for a loan with also has access to these reports. Your credit report is a kind of barometer for banks, credit unions, property leasers, and even insurance companies to use in deciding the level of risk they believe you pose as a borrower, renter, or insured party. It is a good idea to obtain a copy of your credit report annually so that you know where you stand.
Who Should You Order Your Credit Report From?
June 15, 2009
By Mike Wayman
With so many credit report companies offering credit report services these days it can be difficult to tell who to get your credit reports from. National television commercials offer free credit reports to consumers but there has to be a catch, right?
The catch is quite simple. Many of these “free” credit report providers aren’t the well intentioned do-gooders they say they are. In fact, what they’re really after is what’s known as an “up-sell” in the sales industry. Sure, they might give you something that looks like a full fledged credit report, but what they’re really after is the ability to sell you their products and services.
The most annoying aspect of these free credit report websites is that they will continue to email you for years if you let them in their efforts to sell you their credit repair services. I like to think of these free credit report sites as gigantic bait and switch schemes. They reel you in with the bait (a free credit report) but they immediately switch to sales as soon as they give you the report.
You also need to be careful about who you give your social security number to these days. As a former police officer I’m highly suspicious of anyone that asks me to give out my social security number, especially when the product they provide is completely free of charge. Isn’t your social security number more valuable than a free credit report?
My advice is to get your credit reports directly from the credit bureau’s themselves. Just Google Experian, Transunion, and Equifax. You’ll be able to get a valid copy of your credit report directly from the source.
If you are looking for a free credit report to begin the credit repair process, I would first seek out a trustworthy credit repair company and ask what the credit repair representative advises. Some companies will want you to order your reports directly from the bureaus while other credit repair firms will want to pull credit on your behalf. If you are seeking a credit report for your own use, the bureaus will give you a free copy every year if you ask for it.
