It’s Your Credit…You Have a Right to Know What’s On It!

Did you know that all residents of the US have the right to obtain one free credit report from each of the three credit bureaus per year? Since credit score is more important than ever due to today’s tightening credit standards, it’s the perfect opportunity for home buyers to take advantage of this benefit.

But Beware…

Although you see commercials offering free credit reports, many companies actually charge a fee or require enrollment to qualify for the free report. That’s why one of the best resources for a free report is www.annualcreditreport.com. This report can help people check the accuracy of the information in their report. However, it does NOT include the credit score. If people want to know their number, they can pay an add-on fee from the service or simply contact me for help determining their actual score.

Stagger Your Reports

Remember, people are only entitled to receive one free report from each bureau per year, so they should consider staggering the requests. For example, people can make a note on their calendar to order a report from TransUnion® one month, then one from Equifax® a few months later, and finally one from Experian® a few months after that. In essence, this will allow people to order three credit reports per year…and provide them with the ability to monitor their credit throughout the year.

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