What's the truth about free credit reports?If you search for "free credit reports" online, you are likely to get everything else besides what you really want: free credit reports! The truth is so easy yet alot of people don't get it. A Federal law exists which allows you to check your credit report for free every year. That means you don't have to pay anything, zero, zilch, nada. Why should you bother obtaining your credit reports? I'll give you two reasons: 1.) Mistakes, mistakes, mistakes. Yes, lenders and creditors are people too (atleast most of them!) and mistakes happen. When they do, guess who gets hurt - you. So you must check for and fix mistakes when they happen. 2.) Identity theft on the rise. You've seen those funny commercials. They aren't so funny in real life. It's a sad fact that other people can steal your identity and totally destroy everything you've worked for. Don't let this happen - you should do everything you can to prevent identity theft. Check your reports for stuff that you didn't do - if you find something, you'll need to put a "fraud alert" on it. That tells lenders and creditors that you may be a victim of id theft and that they must check with you personally before opening new accounts. Okay, ready for the big truth on this? Go to www.annualcreditreport.com or call 1-877-322-8228. That's it. Now before you do - think about using this strategy: ask for the reports four months apart. For example, ask for TransUnion's in January, Equifax's in May, and Experian's in September. This will spread the reports out throughout the year and will allow you to best do your monitoring.
Now do it. |