You can get a copy of your credit report at
any time you feel it necessary. You can get
a copy from any or all of the 3 major credit
bureaus for a small fee. Many websites offer
help, just contact the agency itself and cut
out the middle man. Depending on the agency
and or the state you live in, you may have
access to a free copy each and every year.
You also have a right to a free copy if you
have been denied credit by a company you
applied for it with. The info will come in
the mail shortly after your denial that will
give you details on getting the free report.
Just be certain to act at once as there is a
60 day period for the free copy when you are
denied credit.
It is highly recommend that you get a copy
of your credit report on a regular basis to
manage it properly. Do not wait until
applying for credit to get a copy. You may
find an error in your report that you will
want to dispute before applying for credit.
You are totally within your rights to fight
any errors in your report at any time. The
sooner you act, the better you are quite
obviously. The credit report agency that is
reporting an error, by law, must investigate
the error. This usually has to take place
within 30 days of your request and they have
to provide you with the details of their
investigation as well. If you do have an
error, it will most likely become a thorn in
your side so to speak. Demand recourse and
follow through – after all it is your right
even though it may be a pain to take care
of.
Reading your report to get information
Be certain that you check the information in
your report for accuracy (other than
creditor errors). Make sure your birth date,
address and social security number are
absolutely correct. Nothing is worse than
having someone else’s crap being reported
under your name because the social is one
digit off! This is rare and a major problem
if it is happening too.
Be certain that you check the accounts
listed in your report. Be sure they are
actually ones that you have. You will find
that if you have a credit card with a
department store, the company name on the
report may be different than the name of the
store. Usually it is a name of a bank. Just
be sure you are aware of this type of
information. Never assume a company will be
looking out for you either. You have to be
your own watchdog when it comes to details
like this. If you do see an unfamiliar name
of a bank or company on your listing of
accounts, just compare the account number
next to it with your credit cards to see who
it actually is.
Adverse credit histories
If you have had any unfavorable credit
history, this will be certain to be
contained in your credit report. Late
payments on past or present accounts will be
reported to the credit agencies. Some
companies report right away, some report
more details than others as well. If you
have a recent late payment or have to make
on that is day or two late, check with your
creditor to see what they intend to report.
You will find that some creditors forgive
one late payment a year and some that do
not. If you have a question about these
specifics, try calling the 800 number on the
back of your credit card to find out.
Anything adverse in your history that is of
public record will also show in your credit
history. This is where bankruptcies are
located. If you have a bankruptcy, it may or
may not be reported still in your report. It
depends on when it took place and other
details. It will most likely show unless it
was from many,many years ago. Also, it may
be reported as discharged debt.
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