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Get your free credit report!
It's finally North Carolina's turn.
Starting on 9/1/05, residents will be
able...once a year...to get a FREE copy of
their credit report.
You can use your credit report to
correct errors, spot fraud, and thwart the
increasing threat of identity theft.
The 14 State region that included
North Carolina is the last part of the
country to get access to a FREE credit
report. Your right to one(1) free
credit report per year is mandated under the
Fair and Accurate Credit Transaction Act of
2003.
There is only one official
website:
www.annualcreditreport.com.
At this website, you can order a copy
of all reports compiled by the three major
credit-reporting agencies: Equifax,
Experian and Trans-Union. This site
can also be accessed through a link at the
Federal Trade Commission (FTC) website:
www.ftc.com.
You can also get your FREE credit
report by calling toll free to:
1-877-322-8228.
You will need to provide your name,
address (and previous address if you have
moved recently), Social Security Number and
date of birth. You will be asked to answer
some authentication questions to make sure
that it is you...and not somebody
else...trying to get your information, such
as when was your last mortgage or car
payment.
People have reported that completing
the forms can be a bit confusing.
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WARNING: FAKE SITES
There are fake sites, and lots
of them. Be on the lookout for fake
"free-credit-reports" sites that
lure you into buying credit
monitoring services. The
Federal Trade Commission has already
identified at least 130 such sites.
Here's the test: If you are
asked for your credit card number,
you are likely at a fake site.
Pop-up ads or email messages
claiming to be for the official web
site are probably scams. |
Which Credit Report Should I
Request?
Ask for copies of all three agencies'
reports...Equifax, TransUnion and Experian...as
the information listed with each agency
sometimes varies due to factors such as
out-of-date listings or wrong account
numbers.
What's In The FREE Credit Report?
The reports from the 2 major credit
reporting agencies differ in style and
appearance, but they all contain 4 basic
categories of information:
- Identifying Information
- Credit History Information
- Public Records Information
- Inquiries For Your Information
What Your FREE Credit Report Does
NOT Include.
Unlike the credit report, information
about your credit score is NOT FREE.
But it's more important. You score can
affect many things, including your ability
to get loans, your insurance premiums, and
even your employment.
Scores range from 300 to 850 and are
used to predict how likely you are to pay
your bills on time. The higher the
score, the better off your are.
You can order a copy of your credit
score, which is based largely on credit
history, from all 3 major credit reporting
agencies at the official site:
www.annualcreditreport.com.
The fees for a copy of your credit
score are as follows:
- Equifax: $6.95
- Experian: $5.00
- TransUnion: $5.95
What Should I Do With My FREE
Credit Report?
- Check the entire report to make
sure it is accurate and pay close
attention to items such as loan
balances, credit limits and past-due
amounts.
- Make sure that you recognize each
account, including mortgages, loans and
credit cards. If you don't know
the creditor, check it out.
Sometimes companies change their names,
or it could be a fraudulent account.
- Closely review all negative
information to make certain the amounts
and dates of delinquency match personal
records. Also look for out-of-date
accounts. Negative information
should remain on credit reports only for
seven (7) years.
How Do I Handle Disputed
Information?
- If you find an error or unknown
entry on the report, you should notify
both the creditor and the credit
agencies (www.equifax.com,
www.transunion and www.experian.com).
- Credit reporting agencies usually
have 30 days to investigate, make
corrections and give customers an
updated report that does NOT count as
their annual freebie.
- Document the dispute in writing.
Acknowledgement:
All of the information contained on this
page was obtained from News and Observer
newspaper articles published on 8/28/05.
© THE
NEWS AND OBSERVER PUBLISHING COMPANY.
Here is
a link to those articles for more details
and further information:
http://www.newsobserver.com/business/story/2762981p-9201793c.html
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