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Free Credit Report - Really
2005 marks the year that consumers will be able to get a free
credit report each year. The roll out of the Fair and Accurate
Credit Transaction Act signed into law by President Bush actually
began last December 1. If you didn't know about it, don't worry.
You haven't missed the boat. Not everyone is eligible to get
their credit report. The Federal Trade Commission (FTC) is
allowing the credit bureau's to implement the program piecemeal
so as not to overload the new credit report system. Millions of
consumers are expected to take advantage of the free reports.
Last December, consumers from Alaska, Arizona, California,
Colorado, Hawaii, Idaho, Montana, New Mexico, Nevada, Oregon,
Utah, Washington, and Wyoming were able to take advantage of the
free credit report. Next March, the Midwest will have access to
free credit reports. The South has to wait till June, and the
East must wait until September 2005.
After your eligible, you can request you free credit report
from a web site, by calling a toll free number, or by requesting
it in writing. The web site address is AnnualCreditReport.com.
This website was created by the credit bureaus. The toll free
number is (877)-322-8228, which is also (877)-FTC-HELP if that's
easier to remember. The address to write to is Annual Report
Request Service, P.O. Box 105281, Atlanta, GA., 30348-5281. You
will not be asked to sign up for a trial subscription for a
credit monitoring service after requesting your credit
report.
Your not limited to one free credit report a year. You can
request three - one from each of the credit bureaus:
Experían (http://www.experian.com), Equifax Inc.
(http://www.equifax.com), and Trans Union LLC
(http://www.tuc.com). It's a good idea to request a credit report
from one of the credit bureau's every four months to monitor the
activity related to your credit. You do not have to request three
credit reports at the same time. Errors on credit reports can
cost you plenty of money. You need to make sure your credit
report is accurate before submitting a mortgage application,
buying a car on credit, or even requesting a credit card. Take
advantage of the free credit reports to protect your most
important financial asset - your credit.
George Burks of http://www.mybiweeklymortgagepayment.com
has offered a biweekly mortgage payment plan with no enrollment
fee since 1999. His interest in financial topic is varied. Visit
http://www.mybiweeklymortgagepayment.com
to see our growing financial library. Ask about our reprint
policy
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