In 2003 congress amended the Fair Credit Reporting Act.
This amendment now gives you the right to access your credit history for free.
There are three credit reporting agencies, Trans Union, Equifax, and Experian.
Each of these three credit reporting agencies is all required to allow you to access your credit history for free at least once a year.
Many people think if they have a current copy of their credit history from one agency, that's all they need to know.
The truth is your credit history may not be the same from each reporting agency.
One may show something another doesn't and vice versa.
That's why its important for you to take advantage of the Fair Credit Reporting Act allowing you to access your credit history for free from each of the three reporting agencies.
How To Access Your Credit History For Free Gaining access to your credit history is a simple task you can complete online.
The federal trade commission has a web site specifically setup to allow you to get your free annual credit history reports.
No purchase is necessary.
There are several companies who offer to automatically provide you with your credit information from all three agencies on a regular basis for a small fee.
The same sites will often provide you with one free report.
You can then choose to sign up to receive regular updates.
Again, its important to note: You don't have to purchase anything to access your free credit report This can be very helpful if you're trying to improve or maintain good credit.
You'll automatically be altered to any derogatory information.
Rather than waiting to find out about your credit history once you've already applied for a loan, its better to stay informed and correct any problems as soon as possible.
Another way you can access your credit history for free is if you've been denied credit.
The reporting agency used to determine your credit worthiness, is required to provide you a free copy of your credit history.
Any time you are denied credit be sure to get your free copy of your credit history.
You can then determine why your credit was denied and if there is any information on your credit report that may not be accurate.
If you determine there is information that is not correct, there are steps you can take to get the information changed.
For example, if you see a bill listed as unpaid and you're sure you've paid it all you need is proof of payment to get this corrected? Simply submit the proof of payment to the reporting credit bureau and they will update your credit history to show the payment.
The same is true for other information that is incorrect on your credit report.
All you need is to provide proof of the correct information and the reporting agency is required to update your credit history.
Its more important than you may realize to keep your credit report accurate.
The credit reporting agencies provide information contained on your report to lenders, employers, insurers, and other types of businesses.
Your credit history can be used to evaluate your applications for credit, employment, renting, or insurance.
Don't risk getting your applications turned down.
Get your free credit history at least once a year.