Free Access to Credit Reports

ACCI advises that you get copy of your credit report from three major credit reporting agencies o­nce a year, to ensure the information in them is correct. After your initial free access to credit reports, each agency will charge a service fee to obtain this report.

The three agencies are:

Experian at http://www.experian.com
Trans Union at http://www.transunion.com
Equifax at http://www.equifax.com

To obtain a copy of your credit report, you must provide the following in writing:

• Full name, including any previous or maiden names
• Current address
• Previous address. (required to order a five-year credit history report)
• Social Security number
• Date of birth
• Signature

If you have a credit card available, you can order your credit report o­nline at the agency website, and provide the necessary information. You will be asked to provide your credit card information, such as type of card, card account number, and expiration date, to pay for the report.

Free Credit Reports

When you are denied credit due to damaging information provided by your credit report, you may ask which agency provided your credit history and then obtain free credit reports from that agency within 60 days.

Also, you can get o­ne free report if:

• You are unemployed and plan to search for a job within 60 days;
• You are o­n welfare; or
• Your report is inaccurate due to fraud.

What to look for in your free annual credit reports

After obtaining your free annual credit reports, the first step is to get a clear picture of your credit profile. Look closely at the data from each credit bureau to see that it all matches up. Keep an eye out for:

• Wrong mailing addresses
• Incorrect Social Security info
• Old employers
• Signs of identity theft
• Errors in your credit accounts
• Late payments
• Unauthorized hard inquiries

If you find negative information in your credit report that is correct, you can:

• Pay off any balances so creditors may update your file
• Wait seven years for the negative information to be removed from the report (excluding bankruptcies, which usually remain o­n the report for 10 years)
• Write a brief explanation statement to be included in future reports, in situations such as unemployment and hardship.

Use the credit report to improve your behavior. If you identify problem areas o­n your credit report, make a plan for improvement. If you’ve had a hard time paying your bills o­n time, sign up for an automated payment service. If your debt levels are above 50% of your available limit, create a payment plan to reduce your balances. Set goals for improving your credit and be sure to celebrate when you reach a milestone.

Check your credit again 30-60 days after disputing errors and changing your behavior to see how much you have improved. If any inaccuracies remain, continue to negotiate to have them taken off your credit report. If you want to tell your side of the story, ask to have a consumer statement added to your credit file.

To guard against fraud and keep your credit healthy, sign up for a Credit Monitoring service that will quickly alert you to any changes in your report. Keep copies of your old credit reports and letters of dispute in a safe place for future reference. Make a plan to evaluate your progress in the spring.

If you ever find discrepancies in your credit report, you may:

• Write a request to the credit agency for an investigation to be made within 30 days;
• Contact the creditor in writing.