11/14/2011 09:33:00 PM
Mofienecs
Free Credit Report And Score
How To Receive A Free Credit Report
Each consumer with credit history should obtain a copy of their report
annually. The cost of credit reports vary. If obtaining a copy from the
credit bureaus, consumers may pay $15 per bureau. However, some online
credit agencies advertise low cost credit reports. Rather than paying
for a credit report, consider obtaining a free report.
Who Qualifies for a Free Credit Report?
By
law, each consumer is entitled to one free credit report each year.
Although reports are free, consumer may have to pay a few bucks to view
their credit score. Despite this incentive to encourage credit report
monitoring, many people neglect to review the contents of their report.
This results in millions becoming victims of identity theft each year.
Free credit reports are available online, and viewable for up to 30
days. However, other factors may also qualify you for a free credit
report.
Credit Report Inaccuracies
If you believe that
your credit report contains errors or mistakes, you are a good candidate
for a free credit report from each of the three bureaus. The majority
of people only review their report from one bureau. However, if the
contents on the Experian report are inaccurate, it's worth obtaining
copies of the other three reports to ensure that the same mistake has
not occurred twice.
Denied Credit, Employment, or Insurance
Although
credit history has nothing to do with your ability to function well on
the job or drive a car, many employers, and insurance agencies have
begun checking credit reports. In some instance, a negative credit
rating may prevent you from obtaining employment, or result in higher
car insurance premiums. Individuals who have been denied a line of
credit, employment, or insurance because of their credit will qualify
for a free report.
Experience a Credit Limit Reduction or Interest Rate Increase
Unfortunately,
creditors have the right to reduce credit limits and increase rates at
their leisure. If you habitually make late payments or exceed your
credit limit, a change in credit card limits and rates should be
expected. However, if changes occur for no apparent reason, it helps to
obtain a free copy of your report and ensure that all information is
accurate.
