Free Credit Reports
Every American is now entitled to receive free credit reports annually, a welcome relief for the millions of Americans who previously had to pay to review their credit reports. The free credit reports come as a result of the FTC’s final ruling under the Fair and Accurate Credit Transactions Act.
The three major credit reporting agencies, Equifax, TransUnion and Experian, are required to provide consumers, upon request, one free copy of their credit report annually. The agencies have been phasing in the free reports region-by-region, with the northeastern states finally getting their turn Sept. 1, 2005.
Consumers will need to request their information one of the following ways.
Go to www.annualcreditreport.com, which is the only authorized source for consumers to access their annual credit report online for free. Or, call 877-322-8228.
Lastly, you may complete the form on the back of the Annual Credit Report Request brochure, and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA, 30348-5281.
You’ll be able to order all three credit reports at one time, or at different times throughout the year. It’s your choice. But, be sure to order from the centralized agency. If you go directly to the credit reporting agencies, you will be charged unless you fit other criteria for a free report.
If a company denies you credit, insurance or a job because of something in your credit report, that company has to tell you which credit bureau provided the information. You are entitled to a free credit report from that bureau within 60 days of being turned down.
To obtain additional copies of your report, in excess of what is allowed within a year, most states will charge a fee ranging from $1 to $10. A fancier version, which includes your credit score and explanations on how it was obtained, costs a few dollars more.
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