The Truth About Free Credit Reports

The Truth About Free Credit Reports

Consumer are subject to an overwhelming mountain of buzz about it comes to credit reports and credit scores. There are also oodles of offers available for obtaining this information for “free.” The overload can prove daunting even to the most finacial savvy among us to weed through. 

So what’s the average consumer to do?

First is to know where you can obtain the information you need without paying a dime for it. A lot of companies wish to sucker you in with promises of free credit reports, but when you attempt to obtain the reports, there’s a catch, such as enrolling for a credit protection service or committing to a trial period for other services. Stop! Don’t be drawn in by these add-on offers.

AnnualCreditReport.comhttps://www.annualcreditreport.com is the free, no strings attached website set up for obtaining your credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.

This website will allow you to request and print your credit report. You’ll also be able to request your credit score (for a fee,) but you are are not required to purchase your credit score in order to get the free reports.

The next question inevitably is, “Do I need to know my credit score?” Most likely, no. Unless you are planning to apply for a large credit line, mortgage a home, or open a business, knowing your credit score may not be of benefit to you at all.

If you are curious to know your score, check into other alternatives before you shell out the cash to find out the number. Have you recently obtained a new credit card, purchased a car, or re-financed your home? Contact your credit lender and see if they have your credit score on file. Most will be willing to disclose the information at no charge to you.