Credit Report form Three National Credit Bureaus

Today any resident can have one free copy a year of their credit report from each of the three national credit bureaus. The annual free credit reports are mandated by to reduce the incident of identity of theft by encouraging consumers to regular check their credit histories for suspicious activity, such as a new credit card account that was never requested.

The three national credit bureaus are competing companies. The gather all the details of their consumer separately, they don`t share their consumers data with each others. Though the format of credit report of three national credit bureaus in different but they all has got the same information`s about their consumers like former address, employers, fraud alert, recent inquiry by credit generator, and all other public records on which the credit report is based on.

The trade lines includes the credit limits, balances owing, the payment histories of loan , credit card and all other accounts as reported by the subscribes to the respected bureaus whether Experian, Equifax or Trans Union.

As this bureaus don`t share their data. It`s common to find a difference in the data, as well as the scores for the same consumer. Many of companies are members of one or two bureaus but not all the three.

Consumer should be prepared. Getting the credit report may not be easy as number of consumers have complaint about the programs it`s because many times consumer won`t provide all the correct information. Avoid all the incorrect information and get your credit report.

Anna Josephs is a freelance journalist having experience of many years writing articles and news releases on various topics such as pet health, automobile and social issues. She also has great interest in poetry and paintings, hence she likes to write on these subjects as well.

Credit Reports -- Your Free Report Could Cost You

The growing prevalence of identity theft and increased concern about good financial health has led many consumers to seek copies of their credit reports online. Doing so is certainly laudable; the more you know about how potential creditors and lenders see you, the more prepared you can be when it comes time to apply for a loan or credit. An added bonus is that consumers can obtain one copy of their credit report from each of the three main credit bureaus once a year through the official Web site set up for such purposes at AnnualCreditReport.com.

Unfortunately, there are still many Web sites that exist for the sole purpose of tricking consumers who are seeking copies of their free reports. A quick Google search for the term "free credit report" today turned up no fewer than twenty four million sites in the search results. There certainly are not twenty four million Web sites that are going to provide copies of credit reports for free, so what is this all about?

It's about money. Aside from the "official" site, the others are there to profit, and they can profit in one of two different ways:

Sell you something - Some of these sites actually belong to the credit bureaus; they have set them up to give you the credit report while selling something else to you in the meantime. These sites will offer the "free" report in large letters, while telling you in smaller ones that by accepting the free report you are agreeing to buy a credit monitoring service, which can cost you $10-15 per month. The credit bureau-owned sites will also tell you that you can get your report for free at the "official" site. That is usually stated in fairly small print near the bottom of the page.

Steal something from you - Unfortunately, there are still many unscrupulous crooks out there on the Internet who see the interest in credit reports as the ideal way to steal personal information from people. Their sites will offer a "free" report, and perhaps some other services for which you can pay. But when you fill out the application and provide your name, Social Security number and credit card, you get nothing in return. Instead, the operators of these sites use the personal information to borrow money and take out credit in your name, leaving you to pay the bills.

If all you want is a free credit report, the best way to avoid this problem is to obtain it from the official Web site at AnnualCreditReport.com. Alternatively, you can call 1-877-322-8228 to receive your report by mail. That way, you can avoid being victimized by the thousands of Web sites that might cause you to pay dearly for your "free" credit report.

3 In 1 Credit Report - Getting A Copy Of Your Credit Report And Seeing What Needs To Be Improved

If you are concerned about identify theft or regular credit monitoring, you likely understand the importance of obtaining a copy of your free personal credit report. Neglecting to monitor your credit may prove damaging in the long run. It does not take long for a person to access your information and begin opening accounts in your name. For this matter, consumers are advised to obtain a 3 in 1 credit report every six months.

Benefits of a Credit Report

Aside from protecting yourself against identify theft, credit monitoring is essential for improving your credit rating. Although lenders use credit reports to judge a loan applicant's creditworthiness, credit reports are also beneficial because they keep us informed of our credit standing. Thus, we can know our odds of obtaining a home loan, auto loan, etc.

How to Get a Copy of Your Credit Report

Getting a copy of your 3 in 1 credit report is simple. Furthermore, because reports are viewable online, there is no valid reason not to check your report at least once annually. Every city across the country has a local credit agency which will issue copies of your credit report from all three bureaus. However, if you prefer the convenience of the internet, there are various websites offering 3 in 1 reports for a small fee.

To obtain a copy of your personal reports, you must provide information such as name, address, social security number, etc. Once your information is verified, credit reports are either sent via email, or viewable from the website. Your entire credit history will show before your eyes.

Why Obtain Copies of a 3 in 1 Credit Report?

If you are hoping to improve your credit rating, obtaining a 3 in 1 credit report should be the first step you take. This way, you know exactly what needs improving. The report will list all creditors, current balances, and account standing. Moreover, you should review your report for errors. If inaccuracies are present, contact the bureau and discuss clarifying the matter.

In addition, credit reports include a credit score. This 3 digit number carries a lot of weight. Low scores indicate bad credit, whereas high scores equal good credit. If the goal is to improve credit score, it may be wise to improve in certain areas. For example, avoid late or skipped payments, reduce debt to income ratio, settle collection accounts, and limit your number of credit inquiries.

3 Free Credit Reports For You

If you were to tell someone that they can have a certain item for free, more than likely their response would be, "what`s the catch?" In the case of credit reports there is no catch, you can now get a free copy of this report through the three credit reporting agencies: Equifax, TransUnions, and Experian. Let`s take a look at the law and how you can benefit from it.

An amendment to the federal Fair Credit Reporting Act (FCRA) requires the three national credit reporting agencies to provide one free copy of your credit report to you annually. Beginning on December 1, 2004 and culminating on September 1, 2005, the Federal Trade Commission is requiring that these agencies offer reports on a rolling, phase in basis. In other words, on December 1, 2004, if you live in certain western states you became eligible at that time and every three months later additional states were added. By September 1, 2005, residents of all states are eligible.

Fortunately for consumers, you need not contact the three reporting agencies separately to obtain your free credit report. You can order right online at annualcreditreport.com; or by calling 877-322-8228; or by completing the Annual Credit Report Request Form and mailing it:

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

The form is available online where you can print it out and mail it in: ftc.gov/credit.

If you need copies more often, you can contact the three reporting agencies and request copies. You will pay for this service.

To buy a copy of your report, contact:

Equifax
800-685-1111
equifax.com

Experian
888-EXPERIAN (888-397-3742)
experian.com

Trans Union
800-916-8800
transunion.com

There are also private companies who will obtain all three copies of your credit report for you as well. There is a fee involved, but you may find their services to be less of a hassle than contacting the three companies separately.

So, how can you benefit from the law? By ordering copies of your reports from the companies on a four month rotating basis. Most consumers will find this plan to be sufficient and it will allow for you to compare/contrast the reports of each agency. Of course, if you already suspect fraud you will want to order all three reports at once and notify each agency to place a "fraud alert" in your credit file.

All in all, the new law is a big win for consumers. Take advantage of this "windfall" as soon as you become eligible to do so.