Under the 2003 Fair and Accurate Credit Transactions
Act, every American has the right to a free copy of this important
consumer document every year from each of the three major credit
bureaus -- Equifax, Experian and TransUnion.
Complete the form
on the back of the "Annual Credit Report Request" brochure, available
from the FTC,
and mail it to: Annual Credit Report Request Service, P.O. Box 105281,
Atlanta, GA 30348-5281.
You'll be able to order all three credit reports
at one time, or you may order at different times throughout the
year. It's your choice. Be sure to order from the centralized
agency. If you go directly to the credit reporting agencies, you
will be charged a fee unless you fit another criteria for a free
report. And beware of ordering your free credit reports from fraudulent,
deceptive and misspelled domains that will charge for the
same service you can get free.
The new ruling doesn't replace the other ways to
receive a free credit report. You're still entitled to a free
credit report if: you've been denied a loan, insurance policy
or job based on your credit report; you're applying for unemployment
or receive public assistance; or you currently reside in a state
that already offers one or more annual free credit reports.
A credit report contains a consumer's history of
loan payments, including those for mortgages, credit
cards and auto loans. It is used by lenders to judge whether
to grant additional credit to consumers, and at what rate. It
is not the same as a credit score, which takes the information
contained in a credit report and distills it into a three-digit
number. Credit scores are not included in the credit report, and
must be purchased from the credit bureaus or from Fair Isaac Corp.,
the company that produces the widely used FICO score.
