Two of the most important factors that have to deal with your financial situation are your current FICO score and credit report. These scores represent your current financial reputation and are going to be reviewed any time an individual applies for a mortgage, loan, lease, or credit card.
It is very wise for everyone out there to get a free credit check at least once or twice a year. The more familiar you are with your current credit rating, the easier it will be to detect any errors on file, outdated information that should not be there, or even possible stop fraud or identity theft.
Although there are many ways you can check your credit rating offline, but now the most popular and easiest way to obtain this information is to request a free credit check right here on the internet. When searching online you can easily find dozens of reputable credit companies that will provide you with a report for no charge at all.
Your Access to Free Credit Reports
The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months. The FCRA promotes the accuracy and privacy of information in the files of the nation’s consumer reporting companies. The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the FCRA with respect to consumer reporting companies.
A credit report includes information on where you live, how you pay your bills, and whether you’ve been sued or arrested, or have filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home.
Here are the details about your rights under the FCRA and the Fair and Accurate Credit Transactions (FACT) Act, which established the free annual credit report program.
Q: How do I order my free report?
A: The three nationwide consumer reporting companies have set up a central website, a toll-free telephone number, and a mailing address through which you can order your free annual report.
To order, visit http://www.annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The form is on the back of this brochure; or you can print it from http://www.ftc.gov/credit. Do not contact the three nationwide consumer reporting companies individually. They are providing free annual credit reports only through annualcreditreport.com, 1-877-322-8228, and Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
You may order your reports from each of the three nationwide consumer reporting companies at the same time, or you can order your report from each of the companies one at a time. The law allows you to order one free copy of your report from each of the nationwide consumer reporting companies every 12 months.
If you want to pay for a monitoring service, it is very important that you do some research to find the best company that fits your needs. When in the process of requesting a free credit check you will find that most companies will give you the option of paying for other services they have to offer.
Some of these services include credit repair assistance, protection from identity theft, and a few others that are completely optional and are not required to complete your credit check.
After you have successfully pulled your credit report there are two things you are going to want to look at right away. The very first thing that you will want to do is carefully examine your report for any outdated information or errors that have occurred.
The majority of all credit reports contain some kind of error, fraudulent entry, outdated info, and any of these events can lead to a significantly negative impact on your score. The next thing you will want to do is find out where your score falls on the FICO scale. Below you will find a scale to help determine where your credit currently stands:
800 – 850 Excellent Credit
740 – 800 Great Credit
700 – 740 Good Credit (Average)
600 – 700 Okay Credit
500 – 600 Poor Credit
300 – 500 Bad Credit