A Credit Report - Your Financial Future Starts Here

A Credit Report is What You Should Start With

It is a good idea to order a credit report if you aren't sure what your credit score is. And if you are like most folks you have no idea what your credit score report is. Don't feel bad you are not alone.

It is always wise before involving yourself in any major transactions that will involve credit that you know your credit score report. Your credit report on file with the 3 major credit bureaus contains info that can affect whether or not you get a loan ... and also how much you are going to pay to borrow that money if you do get that loan.

Whether it be purchasing a car, buying a house, applying for a loan or simply a credit card, you are going to want to know going in what shape your credit score report is in. And a credit report is the only way you are going to know this.

By getting a credit report before hand, you'll be able to insure that the information on your credit report is accurate and up to date. This will give you the time to have the 3 major credit bureaus make the necessary corrections if you find any mistakes or discrepancies.

For instance, you may have paid off a particular loan months ago but the creditor may have failed to notify the 3 major credit bureaus of this fact. This loan will still be shown on your credit report and will not only affect your credit score report but may have a bearing on whether or not you are able to secure that new loan.

By getting this straightened out before you go to apply for a home loan for instance, can save you a lot of frustration.

A Credit Report Will Safeguard Your Credit

Also a credit report can help you to guard against the dangers of identity theft.  Identity theft is when someone gets a hold of your personal info such as your date of birth and Social Security number and opens up a new credit card account using your name (I have provided a link at the bottom of this page if you find yourself a victim of identity theft).

Of course when this happens they are going to pay the bills right? Not!

After a number of months go by and the credit card company turns this account over to collections, you are going to get a phone call. In the meantime, your credit score report has headed south and good luck getting that new car loan.

Getting a credit report on a regular basis will enable you to see any new credit taken out in your name and to quickly close any new account that you did not authorize. At the least, an annual credit report would be a good start.

Also, if you have ever had the misfortune (or good fortune for those in over their head) of having a loan or credit card application denied, a credit report will help you to figure out why.

A Credit Report is Easy to Get - But Beware

Here's the good news ... it has become very easy for you to get your credit report. No longer do you need to make appointments or fill out any more complicated paperwork. All you need today is an internet connection and some personal info about yourself and you can get yourself a credit report almost instantly.

There are a number of sites out there today that will provide you with (or say they will provide you with) a credit report upon signing up on their website. Several years ago before I applied for a new credit card I tried one of these sites out thinking "what the heck."

As I was conducting my search, I found out that there were quite a few sites that claimed they would give me a credit report for free, so after a bit more research a tried one out.

The first site I signed up for was indeed free. But here's the thing - I'm still waiting for a credit report from them. I had given them my credit card number and other personal information.

Now here it is several years later and I am still waiting for a credit report. They fortunately never charged my credit card but it taught me a valuable lesson about just handing my personal info over to just anyone.

Your Best Bet

I soon learned that your best bet in getting a credit report is to contact one of the well respected and well known credit bureaus such as Equifax, Experian or Transunion. They will charge you a small fee of around maybe $25.00 or so but it is well worth the small amount to get an accurate credit score report (I have provided links to the 3 major credit bureaus at the bottom of this page).

What Sort of Info Do You Have to Supply to Get a Credit Report?

When you apply for a credit report you will have to supply the usual: you name, address, date of birth and Social Security Number. If you just moved in the previous 2 years you may be asked for your previous address as well.

For security purposes, each of the 3 major credit bureaus may ask you to provide some info that only you would know, such as your monthly mortgage payment for instance. Each of the 3 major credit bureaus may ask you for different info because believe it or not, the info that each of these has on file for you may come from different sources.

A credit report includes information on where you live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. The 3 major credit bureaus mentioned above sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home.

Make Sure ...

If you decide not to use one of the 3 major credit bureaus for a credit report, make certain that you spend a bit of time in researching the various credit report sites, Most times you are going to find strings attached.

In addition, there is always the risk that the site you are signing up on is a fraudulent site designed to collect your personal info for identity theft. Always make certain that the website address of the page you are providing info to begins with https:// and not http:// (notice the "s" after http - this means this is a secure and encrypted page).

Don't forget - if you can't find the time for a credit report once a quarter, an annual credit report is a good place to start. Make it a part of you New Year's resolutions to get your annual credit report at the beginning of each new year.

The 3 major credit bureaus are Equifax, Experian and Transunion. Although all 3 major credit bureaus keep track of your credit, I feel that Equifax offers more services for the consumer.

Some of the services provided by Equifax include:

• Credit management products like Equifax 3-in-1 Credit Report and Score Watch help you make informed decisions when making purchases, securing loans, paying for college educations, and managing your personal finances.
• Identity theft is the fastest growing white collar crime in America. One in five families have been affected by this epidemic. Identity theft protection products like Equifax Credit Watch Gold with 3-in-1 Monitoring continually monitor's your credit files and alerts you of potentially fraudulent activity like a new credit card application that you did not initiate
• Knowledgeable customer care and fraud specialists available 24/7
• Up to $20,000 complimentary identity fraud expense coverage with no deductible

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If you find yourself a victim of identity theft, go here: http://www.consumer.gov/idtheft/

For more info on getting your credit report go to 3 Credit Report

Also make sure that you check out Free Credit Report

To learn about what I found when getting my credit score report go to My Credit Check

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