Whenever you apply for a new credit card, loan or extension of credit, the potential lender will most likely review your credit report before making a decision. You should too! Check it several weeks or even months prior to making a large credit purchase.
- Get an easy-to-read summary of your credit accounts and total debt - both existing balances and available limits.
- Budget and plan for the future.
- Assure the accuracy of the information reported about your credit. This is especially important when you're getting ready to buy an expensive item such as a car or new home
Qualifying for discounted or free reports
You may be eligible to receive a discounted or free credit report if you meet one of the following conditions:
- Your request for credit, insurance, employment or rental housing is denied based on information received from Credit Reporting Agencies
- "Adverse action" was taken against you based on information in your credit report (e.g., your interest rate was raised or your credit limit was decreased). The name of the credit-reporting agency that provided your credit report and how to contact them for a copy will be provided by the company that declined your credit application or took adverse action.
- Some state laws require credit-reporting agencies to provide their residents a free or discounted report each year even if they are not denied credit.
- If you certify in writing that you are unemployed and seeking employment or receive public welfare assistance.
- If you have reason to believe your credit file contains inaccuracies resulting from fraud.
Learn more at
SeeYourFreeCreditReport.com
RestoreMyCreditReport.com
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