Free Annual Credit Report

Getting a copy of your annual credit report is something that every US consumer should do on a yearly basis. While most people avoid it or put it off for tomorrow, a credit report can tell you exactly where you stand financially and can really affect your future. While in the past it was difficult to get a copy of your annual credit report, nowadays the Internet makes it possible to get a copy of your free credit report with a few clicks of the mouse. Thus putting off getting a copy of your credit report is not only irresponsible but foolish given how easy it is to obtain one.

Annual Credit Report

During the past, a consumer would have to cough up over $9 to get a copy of his credit report and credit history. However, today every consumer is entitled to get a copy of their free annual credit report thanks to a law passed by Congress back in 2003. Under this law, the Fair and Accurate Credit Transactions Act, American citizens can get a copy of their annual credit report every twelve months. They simply need to login to the government’s official site located at Annual Credit Report and they can get a copy of their report from Equifax, Transunion and Experian. Additionally, consumers can request a copy from a single credit bureau rather than all three.

One thing that consumers need to be aware of is that the content of the credit reports will differ depending on which credit bureau it was requested from. For example, a person’s Transunion and Equifax credit reports may contain financial marks and late payments that are not available in their Experian report. Because all pieces of credit info are vital to a person’s financial history, it is important to make sure your credit score is consistent with all bureaus before attempting to take out a loan, mortgage or other significant credit line.