Why should you order a credit report?
Your financial situation is reflected in several assets, and credit reports are one of them. Your ability to improve your credit and restore your score depends on the information you obtain from those reports. They’re not only key to repairing your score—they also help improve your overall financial health.
The process is simple and free if you use the right channel. All you need to start is access your reports. Evaluating your situation and working on score repair comes afterward.
What is a credit report?
Before we dive into why you should request them and how they benefit you, let’s define what they are and how you can use them.
A credit report compiles your credit history and the current status of the accounts where you’ve borrowed money. It includes how much available credit you have left and how much you owe, relevant public information, and details about your financial situation and obligations.
The Fair Credit Reporting Act (FCRA) requires Equifax, Experian, and TransUnion to give you a free report of your credit status once per year. The key point is that this service is free: you shouldn’t pay anyone for this report, since the three nationwide bureaus are obligated to provide it at no cost.
Note: a credit report and a credit score are not the same thing.
Request your reports now!
Don’t hesitate: there are several compelling reasons to request and review your reports. They contain very important information about your financial habits and how they’re recorded in your file.
What are the benefits of requesting your reports?
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Assess your current situation so you can improve it.
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Detect fraud or errors that might be dragging down your score without reason.
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See exactly what lenders will see when they review your profile.
Since the service costs nothing and doesn’t affect your score, there’s no reason not to do it.
Go to http://www.annualcreditreport.com and complete the process hassle-free.
