To keep up to date with your credit profile, it is recommended that you pull your credit report at least once per year. The information contained on your credit report is only as accurate as what is given by your creditors. In a 2004 study, the Public Interest Research Group, a non-profit organization and advocate for consumers, estimates that 79% of all credit reports contain some kind of clerical error. Left uncorrected, inaccuracies can potentially affect your ability to get credit, insurance and even employment.
There are many ways you can get your credit report. Typically the three bureaus will charge you for your report with a score generated. Under federal and some state laws, the CRAs are required to provide a free copy of the report annually. This is a great way to check for inaccuracies in your credit profile. Keep in mind, this will not include your credit score, however your score is not necessary for you to check for errors and omissions.
There are a number of websites out there that claim to provide free credit reports only to have users hit with monthly fees for credit monitoring services which serve no useful purpose. Annualcreditreport.com is a site that is recommended by the federal government and does really offer free credit reports. Because the site redirects you to the actual CRAs websites to pull the reports, you may still get some various offers from the CRAs. When I pulled my last report, it also offered the scoring information for an additional fee. If this is something that interests you, it is still cheaper than paying for the full report and incurring monthly fees.
When you pull your report here is a list of information you want to have with you:
- Your full name, including all initials and suffixes
- Current address with zip code
- Any previous addresses
- Social Security Number
- Year of Birth
- The name of your husband or wife, if married
- Account numbers of some of your credit lines
The online system will ask you for any combination of the above information to verify your identity. While I do NOT recommend the old fashion way, you can always write to the CRAs and request a copy. This process will take 2-3 weeks. To order by mail, print out the Credit Request Form and mail it to the following address:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
Please note that once they receive it, they allow 15 days for processing and 2 to 3 weeks for delivery. It may take you over a month to receive your report using this method. Additionally, if they require more information to verify your identity, this could also add more weeks to the process.
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NEXT: Part 3 – Understanding Your Credit Report
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