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Free Credit Reports

Anyone who has established any type of credit has a credit score, which is determined by what is in his or her credit report.  Every year, the three major credit unions (TransUnion, Equifax and Experian) are required to provide consumers with a free credit report copy. A credit report provides certain information about an individual.

This information includes your bill paying history and patterns, your address, whether or not you’ve been arrested or sued, or if you have ever filed for bankruptcy. These credit reports are sold to employers, insurers, creditors, and more. 

Credit reports are used for numerous different reasons. When obtaining credit or insurance or attempting to get a job or rent a home, credit reports may be reviewed.

Depending on your credit score, your request, whatever it may be, may be denied.

It is always a good idea for individuals to obtain their free credit report. This is because it shows them where they stand regarding their credit score. It can give individuals an idea of where they stand and what things they may or may not apply for when it comes to loans, lines of credit, and more. It can also help individuals what kind of interest rate they may receive. Additionally, it may make individuals aware of any fraudulent activity that may be going on with their identity, such as unknown charges and credit accounts that may have been opened.

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