Getting a free credit report is covered by the Fair Credit Reporting Act passed by Congress. Every American citizen is entitled to obtain one credit report at no cost from Experian, Equifax and TransUnion on an annual basis.
Experian, Equifax and TransUnion are the three major credit reporting companies used by most creditors. You should know that not all creditors use all three so your information could be different on each of your credit reports.
And don't forget the possibility of someone at one of them having a bad day typing and putting in incorrect information. There is a definite need to check your reports on a regular basis.
Each of us has a reason for wanting to see our credit reports. Someone might want to simply see what information is included and if it is accurate. That's certainly reason enough.
Others might want to know their credit score since it is the credit score that most creditors use when making a decision about extending credit to you. Credit scores are not included with your free credit report.
To comply with the federal law, Experian, Equifax and TransUnion sponsored a website called Annual Credit Report where you can obtain free copies of your credit report.
Be prepared for each of those companies to try to sell you something. You might wish to read the adventures of one of our researchers trying to get all three free credit reports in May 2008. Click here to read Free Annual Credit Report.
You can find more information about how your credit score is calculated by reading the article, Credit Report Score Chart.
You can also find more information in the article, Good Credit Score - Frequently Asked Questions.
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