Free Copy Of Credit Report Scams

When trying to get a free copy of credit report, it is easy to get misled by advertisements or promotional emails that claim to do all the legwork for you. Truth is, getting your free annual credit report is not much work so you do not need a third party to mediate. It is your right to get a free copy of your credit report and if internet advertisements are making you believe otherwise, you are being scammed. A credit report scam might covertly sign you up for an expensive credit monitoring or repair service that you do not really need. On the other hand, some credit report scams are cleverly disguised identity theft operations that will ask for all your information to get you a free copy of credit report and steal all your information.

Free Annual Credit Report Without A Credit Card

When looking for your free annual credit check, if a website asks you for your credit card details, it should be an immediate red flag. You can get your free annual credit report without a credit card from all three credit reporting bureaus. Websites asking you for credit card details and other personal information including your name, address, social security number and the like are more likely to be a credit report scam. Log on to AnnualCreditReport.com and you will be able to get your free annual credit report without a credit card.

Free Credit Score From AnnualCreditReport.com

If you Google “free annual credit” and your search leads you to a site other than annualcreditreport.com, and the site asks for credit card details or other personal information to get you your free credit score, you should quit immediately because it is probably a credit report scam. AnnualCreditReport.com is sponsored by all three consumer reporting agencies – Experian, TransUnion and Equifax and is the only website authorized by the Federal Trade Commission to provide you with your free annual credit report. Your only other option for a free annual credit check may be CreditKarma.com; however it only offers a free TransUnion credit score.

Tips For Getting Your Annual Credit Reports

The Fair Credit Reporting Act entitles you to one free annual credit report each year so here are some tips:

• Always double check the address you type in your browser as there is many a credit report scam with names similar to AnnualCreditReport.com and they might try to hoodwink you.
• Instead of getting your free annual credit report from all three credit bureaus at the same time, space them out over the course of the year so you can view a new one every few months.
• Download your free annual credit history immediately as for security reasons; it may not be available later. You might also have the option of getting your free credit score posted to you.
• If you have already accessed your free annual credit report and need another copy, approach any of the consumer reporting agencies (Equifax, TransUnion or Experian) directly instead of using a third party and running the risk of a credit report scam.

The Fair Credit Reporting Act (FCRA) For Consumer Credit Worthiness

The FCRA and the Fair Debt Collections Practices Act together form the basis of the American consumer credit system. Enforced by the Federal Trade Commission in 1970, the Fair Credit Report Act is federal law and grants consumers certain rights to protect them from unfair credit reporting methods.

Consumer Reporting Agencies And Credit Report Errors

The credit reporting act governs all consumer reporting agencies in the country, which includes the three major credit bureaus and other specialty agencies that report rental, check writing and medical histories. Credit report errors made by these consumer reporting agencies often affect a consumer’s credit standing and without the credit reporting act rights, the consumer would have no way of fighting back against unfair credit reporting methods.

The FCRA – Credit Reporting Act Rights

As per the Federal Trade Commission’s Fair Credit Reporting Act, every consumer has the right to dispute inaccurate credit reports. Therefore, in order to help a consumer regain their credit standing, they have certain credit reporting act rights. Some of the major consumer rights are:

• The right to know what is included in your credit file. Since 2005, every consumer has the right to request a free consumer credit worthiness report from consumer reporting agencies annually.
• If an entry in your consumer report is used to take action against you such as being denied further credit or employment, the Fair Credit Reporting Act entitles you to obtain the details of the consumer reporting agency that provided the information.
• To determine your credit standing, you may request a credit score from one of the consumer reporting agencies. However, a fee will be charged for this.
• As per the FCRA, a credit report error can be disputed by a consumer at any time. In order to comply with fair and accurate credit reporting standards, consumer reporting agencies are required to investigate the issue when a consumer claims credit report errors.
• If credit report errors are found to be true, consumer reporting agencies are required to immediately delete the information from the consumer’s report and re-establish their credit worthiness.
• Credit bureaus and other agencies are required to correct inaccurate credit reports and always use up-to-date and verified information to determine a consumer’s credit standing.
• The FCRA explicitly specifies those who might need access to a consumer report; i.e. creditors, insurers, landlords etc. Consumer reporting agencies may provide information only to these and protect your credit report from all others.
• The Fair Credit Reporting Act instructs consumer reporting agencies that they must seek a consumer’s permission before providing credit reports to employers.
• Consumers have the right to limit and eliminate pre-screened credit offers.
• If a credit reporting agency is found guilty of unfair credit reporting methods or a user of the credit report information does not comply with the Federal Trade Commission requirements, the Fair Credit Reporting Act Rights allows a consumer to sue for damages.
• The Fair Credit Report Act has special provisions for victims of identity theft.

Some states have incorporated the FCRA while others have their own credit reporting act – each giving a consumer the right to fair and accurate credit reporting and protecting them from unfair credit reporting methods and credit report errors.

There are many who want to know how and what companies report to credit bureaus. If you also one of these seekers, mind it these credit bureaus are private firms that keep the record of your credit history. They are mortgage companies, banks, stores and some other creditors who provide information about you to credit reporting agencies.

Your date of birth, address, income, Social Security number, payments details, employment record, court cases, bankruptcies, collection accounts and lots of other details are available on your credit report and credit bureaus get these information from other departments and companies. But it is also a fact that sometimes credit bureaus get wrong information about you from different companies that can be very damaging for your credit score.

Your credit report reflects all what you have done regarding credit management in the past. Whenever you apply for some loan or job, your worthiness and employability are judged with your credit report. You can easily get some loan if you have a sufficient income and sound credit report. But if you have a shattering credit history, it would badly impact your credit report and you wouldn’t be able to get further credit.

If some creditor rejects your loan, you can ask it to tell on which information it has done so. Your creditor should inform you about the bureau that has given that disputing information. According to laws, credit bureaus are bound to share all the information that exists on your credit report.  Your credit report serves as a lifeline for your financial well-being and that’s why it is quite important to give proper consideration to this serious issue of your life.