Digital News Report – Americans can get one free credit report a year from each of the credit reporting agencies. This doesn’t include a credit score number, which is what many people want to know. On Monday, the US Senate has passed an amendment that would entitle everyone access to a free credit score.
The three credit reporting agencies that you can get your free credit report from are Equifax, Experian, and TransUnion. You can check to see if the information being reported is correct and if there are errors you can contact the credit reporting agency to dispute the information.
There are services that you can subscribe to that will give you your credit score which run anywhere from $10 – $15 per month. These services will alert you if there has been newly opened accounts and if something has changed on your credit report, such as your address. Sometimes your credit card company will allow you to see your credit score online at no cost. You can also contact the credit reporting agency themselves and ask to get a credit score and not just the report. If you get turned down for a loan because of your credit score, you can ask to get a copy of the report.
You can get your free annual credit report at AnnualCreditReport.com. This is the only free credit report, others may offer a free 30-day trial of their service and when you sign up you are subscribing to a credit monitoring service which you will be charged a monthly fee after the trial period ends. So if you are looking for a free credit report go to annualcreditreport.com. You are able to request a free credit report once every 12 months from the three major credit reporting agencies. This website was created because of the Fair and Accurate Credit Transactions Act (FACT Act).
Many people are not aware what is their FICO credit score. Not only is a good credit score help you get financing on a loan, it also can be checked for when you apply for a job. Auto insurance rates can be determined in part by your credit score. Mobile phone subscriptions also will check your credit score, and you may end up having to get a prepaid mobile that requires not credit check. The higher the credit score the lower the interest rates that you pay on loans.
You can work to improve your credit score by paying off the debt that you owe, making more than the minimum payment on your credit card, and most importantly paying your payments on time.