The Fair Credit Reporting Act

On 02.08.10, In General, by admin

According to the FCRA- the Fair Credit Reporting Act- you can get a free copy of your credit report from each of the three credit bureaus (TransUnion, Experian, and Equifax) once per year. People in the US no longer have to pay for access to their credit report, but despite the new availability of [...]

According to the FCRA- the Fair Credit Reporting Act- you can get a free copy of your credit report from each of the three credit bureaus (TransUnion, Experian, and Equifax) once per year. People in the US no longer have to pay for access to their credit report, but despite the new availability of this information, there are a lot of companies that try to con people into paying for the reports. For more information, visit the credit card debt resource center.

To get your free annual copy of your credit reports, you have to go to the website, which is a partnership between the government and the credit bureaus. The web address is www.annualcreditreport.com. Remember, though, that this report won’t tell you your credit score. Credit scores and credit reports are two separate things and your score can fluctuate based on how it’s figured. In order to get your report, you will need to provide your name, Social Security number, birthdate, and address. You will also need your prior addresses for at least the last seven years, and you may also need to provide information that only you would know, so that the credit bureaus know that it’s actually you requesting the information.

It may take anywhere from a couple of weeks to more than a month to get your reports. You are entitled to one free credit report from each of the three bureaus per year, so when you are trying to fix your credit, order one report, do some credit repair, wait a little while, then order the next one to see if your efforts have had any effect on your score.

The FCRA is providing a golden opportunity for people to stay on top of their credit reports, for free. You should learn your state credit card lawsso that you know how they will affect you. Knowing the laws surrounding credit cards and your credit report is essential so that you can maintain or rebuild your credit. Taking a few simple steps will ensure that you have a solid financial foundation now and in the future.