Credit Report & Credit Score |
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A credit score is calculated from information on your credit report and helps lenders, insurance companies and others considering your for credit worthiness predict how likely you are to pay back your debts.
Why do credit scores matter?
Credit scores, in addition to your credit report determine your credit worthiness, if lenders will give you loans and mortgage, to qualify for insurance and also the rates you pay for these financial services. Are you planning to rent an appartment most landloards get your credit report and score and determine your credit risk for renting you an apartment. Also when you need telephone or gas or electrical service your credit will determine the amount of deposit required to obtain the service.
Lenders continuously look at your records in order to determine your credit card or lending rates any changes could be determined based on major changes to your scores. Usually with better credit scores you are offered better deals, and lower payments and rates. It is important to check your credit score as well your credit report to insure everything is in order and correct. Resolve any situation appearing on your credit report and correct mistakes as soon as you can. Protect your credit score so you can gain financially on all your life financial products.
Usually you are allowed a single free credit report each year or each time you might be refused a loan, credit report or anything that has included credit worthiness in the process. Read more in articles and find out how to obtain reports and how to monitor your credit to insure you are on top of your financial game and also to protect your identity and credit profile. |
A central website, a toll-free telephone number, and a mailing address is set up by the 3 nationwide consumer reporting agencies.
To order, visit annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. Do not contact the three nationwide consumer reporting companies individually. They provide free annual credit reports only through the following site annualcreditreport.com, 1-877-322-8228, and Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
You can order your reports from each of the three nationwide agencies at the same time, or you can order your report from each of the companies one at a time.
The law provides that you order one free copy of your report from each of the nationwide consumer reporting companies every 12 months. |
Federal Trade Commision FTC
The Fair Credit Reporting Act (FCRA) regultes each of the nationwide consumer reporting companies such as Equifax, Experian, and TransUnion so they provide you with a free copy of your credit report, once every 12 months, however you need to request it from them. The FCRA protects the right of consumer in regards to the accuracy and privacy of information in their files within all the nationwide consumer reporting agencies. The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the FCRA.
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U.S. Financial Literacy and Education Commission
Title 5 of the Fair and Accurate Credit Transaction Act (FACT Act) established the Financial Literacy and Education Commission (Commission) with the purpose of improving the financial literacy and education of persons in the United States.
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| Financial Literacy and Education Commission Member Agencies |
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| If you need to order a free credit report and score?
Call 1-877-322-8228, or completethe Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
Provide your name, address, Social Security number, and date of birth when you are requesting a report or score.
Fair Credit Reporting Act |
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