Get Free Credit Report – Quick Consumer Credit Guide

Every US citizen is entitled to free copy of their annual credit report from each of the three credit bureaus. This can be done in three ways:

1.      ONLINE: Visit the website www.AnnualCreditReport.com. Please be aware that this is the only authorized website through which consumers can access their credit report for free and others are likely to be “free” credit report scams.

2.      PHONE: You can call the hotline at 1-877-322-8228. However please bear in mind that free annual credit report requests over the phone take about 15 days to process.

3.      MAIL : If you wish to order your credit ratings history by mail, complete the Annual Credit Report request brochure and mail it to Annual Credit Report Request Service, PO BOX 105281, Atlanta GA 30348-5281

Please remember that consumers are entitled to only one free credit report each year and each additional request incurs a charge of about $10.00. In addition to this, please also keep in mind that approaching a consumer credit agency directly will also incur a charge.

Order Free Consumer Credit Report – Advantages

Even though it is free, many consumers do not order their free consumer credit report because they believe it is pointless. However, regularly checking one’s credit rating history has several advantages, some of which are:

• Credit Report Errors: Viewing your free annual credit report regularly will allow you to pick up on any discrepancies and credit report errors that might have crept in to your credit report such as:- Payments not being credited to your accounts
  - Incorrect defaults shown on your account
  - Credit applications or enquires not applied for
  - Incorrect bank judgments and defaults, etc

• Viewing your own Credit Ratings Score: Obtaining your own credit ratings history enables you to view your own credit score and thereby see your credit standing

• Identity Theft : Viewing your annual credit report frequently could protect you against identity theft. Identity theft has been growing at an alarming rate in the country and it might be a good idea to ensure that you are not a victim. In fact, identity theft victims legally qualify for free credit reports at any time of the year.

Adverse Circumstances – Obtain Free Consumer Credit Ratings History

Apart from identity theft, certain other adverse circumstances qualify a consumer for a free credit report which can help them view and if necessary, improve their consumer credit history.

• Negative Outcomes: If you have been denied credit or employment based on adverse comments in your credit ratings report, you can obtain a free credit report within 60 days of receiving notice of the action.

• Unemployment: In case of unemployment, consumers are entitled to a free credit report within 60 days from the date that they lose their job. Under these circumstances you are only allowed one per year.

It is recommended that consumers review their credit reports quarterly or half-yearly as it has been found almost a quarter of all consumer credit ratings reports contain errors. By regularly obtaining and viewing your free annual credit report, you can prevent and rectify errors in your credit ratings history to improve your personal credit ratings history and maintain a healthy credit standing.

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The sheer volume of a relatively new wave of crime “identity theft” is on the increase, anyone who has you social security number, your credit card details and any other personal details can in just a short time become you and seriously damage your credibility, life and ruin your credit rating.

With the advancements in the technology of today stealing identities is becoming easier and easier. The con artist is a smooth talker and can soon get your social security number and date of birth; from here they can carry on and make your life a living hell by running up a huge amount of credit in a very short time. With just a few details gained from you they can take out credit cards in your name and rack up thousands of dollars in just a couple of hours. However most cards are covered and although the most you would have to pay back would be around $50 this is only the beginning. Once your credit rating has been blacklisted, it is harder to get it back up again even if this wasn’t your fault and you were the victim of identity theft or fraud, which means that when you come to apply for credit such as a loan your chances of getting credit are very slim or non existent.

Even those with excellent credentials before the theft can have problems and this was clearly shown when a NASA engineer who had been with his bank for 11 years was declined a loan after identity theft. Another example of the devastation that identity theft can cause was the woman who spent three years trying to build back up her credit rating and as such was declined a mortgage and missed out on what she described as her dream home. Identity theft can take just a matter of a few minutes but it can take a lifetime to put right.

To ensure that you don’t fall victim to identity theft it is essential that you remain vigilant and take a few factors into account. Always make sure that you do everything possible to keep your social security number safe, your credit card number, any account passwords and any other personal information. You should never give out any of this information to someone you have never met or don’t know, even if this is a company, you have to be sure that the company is a credible one and that they aren’t merely “scammers” seeking your personal information. When shopping online it is imperative that you take care and don’t store your credit card information details on your computer and only shop with a creditable and well established company.

When it comes to your wallet be very careful of what you should carry around in it in case it were to get stolen. Never carry your social security number around with you or credit cards unless you really know you are going to be using them. You should also ensure that you shred your mail especially any items that have credit card numbers, social security numbers or any other personal details.