Daily Money Tip: Get Your Free Credit Report

A lot of people start the new year with the resolution to get a hold of their finances. Well, no better place to start than by getting a copy of their credit report.

A credit report is a record of your borrowing history. In the U.S. there are three major credit reporting agencies and they all keep a record of your credit behavior as it is reported to them. This means that all of their records may not match  or even be completely accurate at any given time. This is why you should get a copy of this report from each reporting agency.

In accordance to the FACT Act, all three credit reporting agencies are required to offer you a free credit disclosure every 12 months. You can request this free report on the government approved website AnnualCreditReport.com.  Once you request your free report check for inaccuracies.

Checking out your credit report will give you a good idea of where you stand as far as debt.  Fixing inaccuracies will also help boost your credit score.  Finally, you can take the opportunity to monitor your credit and make sure you have not been a victim of identity theft.

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Comments

  • Is there a way to get your actual credit score for free as well?

    • Lisa

      I signed up for the free trial of “Zendough” on the TransUnion site and that gave me my credit score with them. If you want the score from all three credit bureaus, you can opt to end your free trial now and get charged the $14.95 monthly fee and see your score at all three credit bureaus. I don’t usually do things like this, but I did it for this one; I figured it is worth the $14.95 to see my score for all three bureaus, especially since getting them individually can cost almost that much (or more, if you go with one of those “rip off” companies like the poorly named “Free Credit Report.com”, which isn’t free!) This score is what all lenders look at first (and sometimes that’s all they look at). Anyway, once you get your three scores, you can cancel your membership and only be billed the $14.95.

      • Hi Guys,

        I think the only way to get a free credit score is to sign up for a free credit monitoring trial. Just make sure to cancel it before the trial period is over or you will be charged. I am forgetful so I think I would just pay. However, unless you are planning on applying for a loan you really don’t “need” to know your score. It’s useless but for loaning purposes. Unless you are borrowing money in the future then you will need to know if so try to bump it up. but at the same time keeping your credit report clean of mistakes is one of the best ways to bump up your score.

        Mercedes

  • Raeann

    Keep in mind you’re allowed one free report from each agency once a year, but you don’t have to get them all at once. I like to space them apart so I can check my credit report periodicaly throughout the year. Ie. get Experian in January, Trans Union in May, and Equifax in September.

  • Sadie

    I was wondering how we can get our score checked too. I know WAMU use to offer it free.

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