The Importance Of Getting a Free Credit Report Each Year

The Federal Trade Commission (FTC) began giving individuals access to one free credit report each year in response to the growing problem of identity theft.  These credit reports can be ordered online through the FTC website and can be delivered, instantly, online or can be mailed to the individual’s home.  This free yearly credit report is easy to request and to gain access to.

When you take advantage of the Federal Trade Commissions offer you will be receiving a free credit report out of each of the three major credit reports; Experian, Equifax, and Trans Union.  The information found in these credit reports are a blue print to your credit history as seen by potential creditors.

How do you get them?

To get your free credit report you must visit the Federal Trade Commission’s website directly.  Unfortunately there are many fraudulent websites out there that claim to offer the same thing as the FTC but will attempt to charge you for the information that should be free.  In order to make sure you going to the right website make sure you only order your free yearly credit report through the FTC site.

When you are at the FTC credit report site you will be able to order each of your credit reports one at a time.  You do not have to order each credit report on the site at the same time so don’t feel obligated to get all three at once if you don’t want to or need to.  I usually wait and access my credit reports at various times of the year.

If you do decide to get all of your credit reports at once be sure you take the time to compare them all for inconsistencies.  It isn’t uncommon for some items to be reported to only one or two credit reporting agencies.

To get access to your credit report you must answer a few questions to verify your identity.  These questions are usually asked in a multiple choice answer format. Each question is based on information that is actively being reported on your credit report which helps to insure that no one who is not authorized is gaining access to your credit history.  If you are someone who does not have an established credit history these questions will usually be limited to recent and past addresses along with employer information.

If you cannot request your free yearly credit report online or you do not feel comfortable requesting that sort of information online there are alternatives.  Each credit reporting agency will let you request your information through the mail and provide forms that can be printed, completed, and mailed to each individual credit reporting agency.  Once received your credit report will be mailed to you.

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