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Helpful Information About Your Credit Report

Short summary:
You can get a free copy of your credit report online by visiting www.annualcreditreport.com a central Web site. that allows you to request a free credit ...

Long summary:
Helpful Information About Your Credit Report Page 1Helpful Information About Your Credit Report Where to Get a Copy of Your Credit Report You can get a free copy of your credit report online by visiting www.annualcreditreport.com a central Web sitethat allows you to request a free credit report every 12 months from each of the three nationwide consumer creditreporting agencies (CRAs): Equifax Experian and TransUnion. To order a credit report by phone call toll free:1.877.322.8228. You can also obtain a free copy of your credit report when a company takes adverse action against you such asdenying your application for credit insurance or employment and you request your report within 60 days of receiving notice of the action. You are entitled to one free report a year if you are unemployed and plan to look for a job within 60 days if you are on welfare or if your report is inaccurate because of fraud. Otherwise a CRS may charge a fee of up to $10 for a copy of your report. Dispute ProcessIf you find an error on your credit report the CRA should be notified immediately. The CRA will reverify the item in question with the creditor at no cost to the consumer. The law requires that reinvestigations be respondedto by the creditor within 30 days and once the reinvestigation is complete the credit reporting agency notifies the consumer of the outcome. If information in the report has been changed or deleted the consumer is also sent a copy of their revised report. Credit ScoresYour credit score is a number based on the information in your credit file that shows how likely you are to pay a loan back on time the higher the score the less risk you represent. The credit score that lenders use is called a FICO score. Your FICO score helps a lender determine whether you qualify for a loan and what interest rateyoull pay. FICO scores are calculated from credit data in your credit report that can be grouped into five categories: Payment History Amounts Owed Length of Credi ...

Source: www.csc.com