You must be wondering about ways on how to obtain credit report without any difficulty. Getting one’s credit report can be challenging, because credit reports are particularly sensitive documents that contain information about a person’s financial history. This makes obtaining credit reports a tough process for some people, as some financial institutions don’t normally release such information.
It is essential for people to know their updated credit score because it is usually one of the main things that financial institutions look into whenever people apply for things like loans and credit cards. Keeping track of your credit rating would also be made easier when you are aware of your credit report, which makes it essential that you secure a copy for reference. You can seek your credit report from a credit bureau, which would be the first thing that you should consider.
What is a Credit Bureau?
A credit bureau is basically a company that will collect consumer credit information from different people, which then would be used as reference by financial institutions when dealing will customers who are applying for loans and the like. As a credit report would have information on a consumer’s borrowing and bill paying habits, it provides financial institutions with information on whether they should risk releasing money to such consumers.
How to Obtain Credit Report For Free
The task of how to obtain credit report will be easy once you are able to know the rights that you have when it comes to dealing with the different credit bureaus. There are three major credit bureaus that you can turn to when you want to get your credit report. These would be Experian, Equifax, and TransUnion. These credit bureaus have been required by the Fair Credit Reporting Act of 2003 to provide each American a free credit report every year, or every twelve months, depending on the time that you have availed of your credit report.
Because it is free, the credit bureaus don’t send them out automatically. If you are wondering how to obtain credit report copies for free, you can go online and request from www.annualcreditreport.com, which is the only source authorized to provide access to a person’s credit report online.
Other steps for you to get your credit report for free would be to call a toll-free number which is 877-322-8228. You can also go and get an Annual Credit Report Request brochure from the Federal Trade Commission (FTC) and fill up the form on its back. You will then have to send it to a specific address, which is Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281
How to Obtain Credit Report With Payment
If chances would have you needing your credit report again but you have misplaced the document, you can actually go and order a new one. If it is not after the twelve month period though, you should expect that your copy would be a paid one. This is actually an option that most people take once they have already seen copies of credit reports from different credit bureaus, because they have already studied which one has reports that they can understand the easiest.
There are also other people who would choose paid credit reports to be updated with their credit scores and not encounter situations that would merit credit repair, which is often bad credit. Other free services are also misleading as well, because some of them actually enroll you in a program that charges monthly for fluctuations in your credit report. If you are the type who wonders how to obtain credit report with payments, it is suggested that you seek assistance from the credit bureaus themselves and not from third parties, as it would be the safest arrangement.