Tools for Gaining Your Free Credit Report


Your credit is one of the most important tools that you have today. Safeguarding your credit is of vital importance. In addition, consumers with poor credit need a way to keep an eye on their credit report and identify ways to repair their credit. Under the law, you have the right to a free credit report from each of the three main credit bureaus (Equifax, TransUnion and Experian) once per year. Using these reports is the single most effective method you have to keep a watch on your credit and ensure that you are able to maintain financial control of your life.

However, while you might be well aware of the fact that you are supposed to receive one copy of your free credit report each year, you might not be aware of how to go about getting it. How do you get a copy of your report? You will actually have several different options at your disposal ? you'll need to find the one that best fits your needs and wants. For instance, a consumer who has been the victim of identity theft might decide to eschew their free report in favor of a paid watchdog service that guards their report from identity theft and other items that can rob them of credit.

How do you get your free credit report? The simplest way to do so is to use the Internet. Visiting AnnualCreditReport.com will allow you to apply at all three credit bureaus to obtain your copy of the credit report. This is fast, easy and effective. You will also be able to apply with just two or even one credit bureau if you wished to stagger the reports that you receive each year. Staggering your free credit report delivery throughout the year is an excellent idea and will allow you to maintain a close eye on your credit for the entire year, rather than only gaining a single glimpse.

Yet another option is to use a toll free number to contact the credit bureau. If you provide them with your vital data, your identifying information and other items, they will be more than happy to mail your free credit report to you. However, this method does take a bit longer, but for those without Internet access, this is the simplest and fastest method available.

Of course, you can also avoid the phone if you wish. You are free to mail the credit bureaus your information and request a copy of your free credit report via snail mail. Of course, this is very slow, as the credit bureaus can take a very long time to process standard mail. If you utilize this option, be prepared to wait longer than a month to get a copy of your credit report. During this time, much might have changed on your report, particularly if your identity has been stolen.

If you have been the victim of identity theft, you can make use of paid protection services online. You'll find quite a few different options. All three major credit bureaus offer you the means to protect your information for a fee (as well as providing you with a copy of your free credit report). Of course, you will also find third-party websites that offer you unlimited access to your credit information for a monthly membership fee. Some of these websites offer you a free trial, but beware. Often, if you fail to cancel the membership in time, you will be charged full price automatically. This can come as somewhat of a surprise, though it is a valuable tool.

Why do you need a copy of your free credit report if you are not worried about your identity being stolen and your purchasing power usurped? The most common reason is to begin credit repair. This is a complex situation, involving determining which debts should be repaid and in which order. In addition, it helps consumers determine if a particular debt has been sold to a collection agency. In this case, the original debt cannot be repaid, but the collection agency can (this leaves the original company as a line item on the report for up to 10 years). Obviously, it pays to settle your debts as quickly as possible.

Your free credit report is the best option you have in your battle to protect your identity, but also to ensure that you pay off bad debts and improve your credit score. You will be able to see all the information that lenders and potential employers do when judging your risk and will be able to take steps to eliminate any threats to your lifestyle and purchasing power. Your free credit report should be the first thing that you check when financial questions arise and the Internet can be the most powerful way to do so.