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AnnualCreditReport.com is a free service for consumers to review their credit reports annually. CHECU encourages all members to carefully review their Experian, Equifax, and Trans Union credit reports to ensure accuracy and protect against fraud/identity theft.
The Fair and Accurate Credit Transactions Act, better known as the FACT Act, entitles consumers to one free credit report per year from each of the three major credit bureaus (Experian® 888-397-3742, Equifax 888-766-0008, and TransUnionTM 800-680-7289). To receive your free report, you will need to contact the Annual Credit Report Service. Be prepared to provide your Social Security number, as well as some additional personal information.
Three Ways to Order Your Free Credit Report
- Mail – Print a request form from the Web address above, fill it out and send to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
Be aware of solicitations that may offer free credit reports but with certain stipulations, like signing up for a trial of their services.
Remember, you may obtain one credit report from each of the three credit bureaus. You may choose to request one report every four months so that you are able to view your credit file periodically. If you request all three at once, you will not be entitled to another free credit report through this service for another year.
Your credit report contains information that determines your credit score. Your score affects your ability to borrow money at attractive rates, get insurances or even secure employment. It is important to understand the content of your credit report.
Here are some key areas to check. Information that reflect inconsistencies with your actions or incorrect information could lead to a derogatory credit report.
Inquiries: These should correspond to applications that you have made for credit. Creditors, employers or collection agencies, however, might recheck your credit periodically. These rechecks are shown as "inquiries" on your report.
Collection Accounts You are Unaware Of: Many consumers do not realize the negative effect medical and utility collections have on their credit report and credit score. Making payments on these items or paying them off, will improve your credit.
Unexpected Public Records: Pay attention to public records – court judgments, evictions and liens, especially if you believe these items are paid.
Derogatory Information: Loans that are reporting past due, credit limits met or exceeded, past credit history, and the amount of secured vs. unsecured debt all affect your credit score.
Incorrect Information: This can happen when there is a Junior and Senior with the same name and incorrect data is sent to the wrong credit report or maybe you have paid something that is reporting as a collection account. All of these entries can be disputed online and the credit bureau will address your complaint within 30 days.
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