American Citizens Denied Access to Free Credit Report Web Site

According to Consumer Reports Webwatch, due to increased security measures, millions of American citizens who are now out of the country for different reasons including students and those in the military, do not have access to see their free credit report. This is a major disadvantage, especially to those serving in the military, but it is necessary due to the risks an out of the country user would create. This website, www.annualcreditreport.com, was created four years ago and made into law at the request of the U.S. Congress. It utilizes financial and personal information from three major credit reporting companies, Equifax, Experian, and Transunion. Under this law, everyone is entitled to one free credit report per year.

This right of every citizen to have access to their free credit report was created due to the increase in identity theft. Allowing individuals to check, rebuild, and fix their own credit is a valuable tool to stopping identity theft quickly. Knowledge of what is happening without your permission is the major stumbling block to thieves intent on using your identity to rack up thousands of dollars on your credit.

In a credit report check, you can hope to find the following: payment information regarding loans and credit cards or any other liabilities you may have. The information is collected from banks, retail shops, landlords, and even your place of employment. This information is put together to come up with a credit score. Everyone has a credit score, be it good or bad, and it's determined by how timely you pay your bills, how many credit cards you have, their balances and how long you've had them, and other financial related information. Your individual credit score can help determine annual percentage rates on future loans and/or whether or not you can receive any more credit.