Should you get a free credit report?

Should You Get a Free Credit Report?

If you’re looking to fulfill your dream of buying a home you’ll want to keep an eye on your credit history to make sure there are no errors on your credit report. So, should you take advantage of a free credit report offer? Yes, and no.

Generally we don’t recommend that people participate in offers for free credit reports. Those credit report offers usually come with an incentive to subscribe to a service that you may not want or need.

However, it is your right as a consumer to receive a free credit report once per year from the three major credit bureaus, Experian, Equifax, and TransUnion.

There are three easy ways to access your credit reports:

  1. Online: annualcreditreport.com
  2. Toll Free Telephone: (877) 322-8228
  3. Via Mail: Fill out this form and mail it back to Annual Credit Report Request Service P.O. Box 105281 Atlanta, GA 30348-5281

Why You Should Review Your Credit Report

The most important reason why you should review your credit report at least once per year is to look for errors. Is everything accurate and up to date? Do you see any inconsistencies or inaccuracies? If so, you’ll want to report those errors right away because they could be affecting your credit score.

How Do You Report Inaccuracies on Your Credit Report?

When you receive your credit report included will be instructions for how to dispute any information that may be inaccurate. 

Once you have requested a dispute, the three major credit bureaus have 30 days to investigate your dispute and get back to you in writing with an answer as to whether or not they will grant an update to the account information as you requested. They also will give you a free copy of your report if there have been any changes as a result of the dispute.

The Federal Trade Commission (FTC) has a sample letter that they have provided for consumers to use in case of a dispute.If you have more questions about disputing items on your credit report, the FTC has information on their website.

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