It's Your Right: Free Credit Checks

Ever since the Fair Credit Reporting Act, everyone across the nation is allowed to access one free credit check from the three major credit bureaus once a year. This may sound confusing, but it's really not. A free credit check could truly change your life, by showing you what other people see when you apply for a credit card or loan. Your free credit check is your credit history, condensed in an easy-to-understand format for companies across the nation to evaluate and make decisions about you based on it. There are many websites that now offer a free credit check so people can be informed about their credit history. Your current standing with companies and what companies have checked your credit report are all things you'll find on your free credit check. There are three major credit bureaus that you can receive a credit check from each year, including Equifax, Transunion and Experian. Each of these three credit bureaus collect your information from creditors and compile it into easy-to-read reports. It is important to check all three of these reports each year, because it only takes a tiny error on one of them to ruin your credit name. Once you get your free credit check, you'll notice the credit report lists your payment history, such as if you always paid on time or if you paid late. The free credit check also includes all of the accounts you've had in the past two years and whether or not you're currently in good standing with them. Another thing to notice is if there are any judgements or bankruptcies listed. Judgements will appear on your credit report for seven years while bankruptcies remain visible for ten years. It is very important to read your free credit report carefully and notify creditors and the credit bureau from which the bad information was reported if you find a mistake. After inputting all of your information onto the websites, you'll receive a credit score, which gives you a number that should fall somewhere between 400 and 820. Anything above a 700 is excellent and you should have no trouble applying for credit cards and the like. This process of getting a free credit check is available across the United States year-round, but you can receive a free one, once a year. Take note of all of the information reported in your free credit check and be sure to question anything that doesn't seem quite right. Keep good records of your personal credit history in case you ever have to refute anything that appears in your free credit check. Remember: your credit report is how companies evaluate you and decide whether or not to give you a loan, a credit card or even a job! Errors should be reported swiftly on your free credit check if you wish to not miss out on any opportunities.

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