Free Annual Credit Report (s) for all American consumers is law. You are entitled to a free credit report from each of the three major credit bureaus: Equifax, TransUnion and Experian. Sounds simple enough, huh? It's not!
We attempted to get all three reports on May 5, 2008. After refusing all "upgrade" purchases from Equifax and Experian, we were able to get the reports with no additional problems. We never got the TransUnion report because every time we clicked Get Report, we were directed to a page that wanted $10.50 before we proceeded. We cannot try again until May 5, 2009.
So, we have copies of our Experian credit report and our Equifax credit report. Let's look, however, at why you even bother to get a copy of your free credit report. The primary reason to get it is to make sure the information is correct. Other than that, it's pretty useless. But that one reason is important enough to do it.
We believe we found a better way. Certainly it's a lot less worrisome, and you do get all three reports! That's already a step ahead of our May 5 experience since we were only able to get two out of three. In addition to all three credit reports, you get all three of your credit scores.
You see, each of the major reporting bureaus has its own credit score for you based upon the information it has about you. Incorrect information on any of those reports may mean an incorrect credit score for you. Be sure to read our articles: The Importance of Your Credit Score and What Are Good Credit Scores?
The Importance of Your Credit Score examines how it affects interest rates you pay on all types of loans as well as how your credit score can affect how much you pay for automobile insurance.
What Are Good Credit Scores? takes a look at credit score averages and what percent of the United States population falls into each of the credit score categories.
But back to our better way and, yes, it does cost a few dollars. There are two ways to order all three of your credit reports and credit scores directly from the people who developed the system: FICO. One way is a simple one-time transaction that costs less than $50. The second way is to order an annual subscription, and it costs even less than the one-time transaction.
Get All 3 FICO Scores and Credit Reports!
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