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Is it possible to obtain a free copy of my credit report or not? If not, what company should I use?
Thanks!
Thanks!
Free credit report?
- Thread starter Doctortobee
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There are a few ways to get a free credit report. You can sign up for a credit reporting service (like freecreditreport.com) which really means your credit report is not free as you will have to pay for the service...just your first one is free.
Some states obligate credit reporting agencies to give each person one free credit report per year. I'm not sure which states but just check with the individual credit agencies (Experion, Equifax, Transunion).
You are allowed to receive one free credit report if you are denied credit for any reason. This is usually the best way to get one for free since the main reason to see your credit report is when you are denied credit. You can then get the credit report from the credit agency (Experion, Equifax, or Transunion) which the creditor used to deny your credit application.
If you apply for a big loan such as for a car or home, usually the creditor will give you a copy of your credit report once you are approved for the loan...if not, just ask.
If you don't qualify for a free credit report there are plenty of companies out there that will provide them for you. If you are checking because you suspect some identify fraud, it is best if you get a copy from the three credit agencies named previously since different credit-granting institutions will report to these separately and you don't know where things might show up. The one thing you almost always have to pay extra for is your 'credit score'. This is a magic number computed by the credit agencies that is often used to make quick approvals or denials of credit. This number is computed using the number of credit checks, outstanding credit available, and any defaults, late payments, etc. You usually can't get those for free since the credit agencies use proprietary methods for computing their particular score.
Some states obligate credit reporting agencies to give each person one free credit report per year. I'm not sure which states but just check with the individual credit agencies (Experion, Equifax, Transunion).
You are allowed to receive one free credit report if you are denied credit for any reason. This is usually the best way to get one for free since the main reason to see your credit report is when you are denied credit. You can then get the credit report from the credit agency (Experion, Equifax, or Transunion) which the creditor used to deny your credit application.
If you apply for a big loan such as for a car or home, usually the creditor will give you a copy of your credit report once you are approved for the loan...if not, just ask.
If you don't qualify for a free credit report there are plenty of companies out there that will provide them for you. If you are checking because you suspect some identify fraud, it is best if you get a copy from the three credit agencies named previously since different credit-granting institutions will report to these separately and you don't know where things might show up. The one thing you almost always have to pay extra for is your 'credit score'. This is a magic number computed by the credit agencies that is often used to make quick approvals or denials of credit. This number is computed using the number of credit checks, outstanding credit available, and any defaults, late payments, etc. You usually can't get those for free since the credit agencies use proprietary methods for computing their particular score.
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actually, you dont need to be denied. even if you apply for credit and are approved, the credit agency doesnt know that your were approved, all they know is that the creditor requested a credit report. so if you were approved, you can still call the appropriate agency and ask for your credit report.
>>>>> You are allowed to receive one free credit report if you are denied credit for any reason. This is usually the best way to get one for free since the main reason to see your credit report is when you are denied credit. You can then get the credit report from the credit agency (Experion, Equifax, or Transunion) which the creditor used to deny your credit application. <<<
>>>>> You are allowed to receive one free credit report if you are denied credit for any reason. This is usually the best way to get one for free since the main reason to see your credit report is when you are denied credit. You can then get the credit report from the credit agency (Experion, Equifax, or Transunion) which the creditor used to deny your credit application. <<<
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I would like to add that there is little need to purchase your score with your free credit report, because you can easily compute your own score with a handheld calculator.
The Beacon scoring system is a commonly used method, and most agencies use scoring methods with similiar scoring criteria. I don't recall the specific points allocated, I'd suggest googling "beacon score". I'd also like to add that each credit inquiry results in only a deducation of 1 point (out of 800), so the easiest way is to ask your student loan office to mail you a credit report.
If you find any information which is inaccurate or out of date, it is your obligation to inform each credit reporting agency by filing a dispute form. Note that each credit reporting agency has a duty to review your dispute within thirty days of filing. So, I think that it is advantageous to request your report now, versus later.
The Beacon scoring system is a commonly used method, and most agencies use scoring methods with similiar scoring criteria. I don't recall the specific points allocated, I'd suggest googling "beacon score". I'd also like to add that each credit inquiry results in only a deducation of 1 point (out of 800), so the easiest way is to ask your student loan office to mail you a credit report.
If you find any information which is inaccurate or out of date, it is your obligation to inform each credit reporting agency by filing a dispute form. Note that each credit reporting agency has a duty to review your dispute within thirty days of filing. So, I think that it is advantageous to request your report now, versus later.
