Do you know what is on your credit report? Finding out what this important document contains is simple just contact one of the credit reporting agencies and request your free copy. Interpreting the credit bureau’s information is simple too.
Usually, most businesses report to one or more of the credit bureaus. You have a report on file at one of the three major credit bureaus if you have ever had a loan, or applied for credit. What this means for you is that to get your credit bureau report, you may need to request a report from all 3 so that you can get a look at your credit bureau “big picture” so you can repair your credit history and score if necessary.
Getting a free credit report is as simple as contacting the credit bureau. You can request one or all three of your credit reports online. A request can be sent by mail also. Whatever route you use to apply for your free report, you will need to supply some personal information to confirm your identity. Although some web sites charge a fee for a credit report, you are not required to pay any fee; the credit bureau must give you one free credit report per year.
Once you get the report from the credit bureau, pay particular attention to certain sections. Check the first section for errors. This section shows your name, address, and other personal information. Be sure to contact the credit bureau with any errors or corrections that are needed.
The next section shows your current open accounts and payment history. Make sure that all the accounts listed are actually yours, and that the payments and balances are correct. Any missed or late payments will show up of the credit report.
Different businesses and lenders report to different agencies, so your credit reports may vary from bureau to bureau. It is possible to have an great credit score with two of the 3 major bureaus and a poor rating with the other, for example. The credit bureau will also list any inquiries made into your credit history. Check the report to ensure that no unauthorized person or company has made an inquiry without your permission.
Be sure to contact the credit bureau with any information that needs to be corrected regarding your debt and credit history, so the credit bureau can take steps to make the necessary corrections.
Monitoring your credit report on an annual basis will keep you up to date on your credit profile, and help give you a sense of peace and security about your financial outlook.
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