Free Credit Checking-Helping You Evaluate Your Finances

The 3 credit bureaus TransUnion, Experian and Equifax gather information about your credit related activities from creditors. You can avail free credit checking at least once a year from the 3 credit reporting agencies. The credit bureaus are required to give you a free credit report on your request. This has been made mandatory as per norms laid down by FACTA or Fair and Accurate Credit Transaction Act. The norms are enforced by the Federal Trade Commission (FTC).

There are certain conditions when you can make a request for the free credit reports. If you have been denied credit, then you can ask for a free credit report within 60 days from the time you get the denial notice. If you are planning to get employed in the next 60 days, you can opt for free credit checking.

You can also get hold of a free credit report if an employer is not willing to give you job or an insurance company is not willing to give you a good deal. Get the free credit report by making calls to toll free numbers, ordering by post or online. Online credit reports are very common these days and majority of the people opt for them.

Why do you need free credit checking?

The free credit report contains information that decides whether or not you should be given credit. You should be checking your credit report from time to time to see if the information that is being recorded in the credit report is authentic and accurate or not. You can also find out if someone has stolen your identity. In identity theft someone else makes use of your name, address and personal details. Your bank account number, driving license number and your social security number may get misused.

What if your credit report has errors?

In case you find that there is an error in the credit report, inform the credit bureau as well as the individual or the organization that furnished your information. As per the FCRA or Fair Credit Reporting Act, the credit reporting agency as well as information provider is held responsible for providing any inaccurate information.