Free Credit Report

AnnualCreditReport.com or the individual bureaus are the only official sites explicitly directed by Federal law to provide free credit reports to consumers. You can request a copy of your credit report from AnnualCreditReport.com every 12 months at no charge. However, other websites and credit services may offer a free credit report as an incentive when you sign up for a paid subscription or credit monitoring service, so be sure to check the details of your agreement if you use another site or service.

Credit unions and other financial institutions use your credit score to determine how likely you are to make your loan and credit card payments. With a higher score, you are considered a lower risk, which means you may get a lower interest rate or better terms when borrowing money.

A good credit score can also mean that you pay a lower premium for your insurance coverage. And cell phone providers and utility companies may use your credit score to determine how much your plan will cost and whether you need to leave a security deposit.

Some employers check job applicants’ credit, which could impact their decision to hire you. Landlords use them to decide who to rent their apartments to, which may have an impact on where you live. A bad credit score can also affect your eligibility for a security clearance through the Department of Defense, which could prevent you from getting a job or promotion.

Under federal law, both the credit reporting company and the information provider (the person or organization who gave them the inaccurate information) are responsible for correcting inaccurate or incomplete information in your report. If you find an error, submit a dispute online immediately. You may choose to let them know in writing, but your concern will be addressed faster electronically. They will investigate your claim and notify the information provider about the error. Visit the FTC website for more information about disputing an error or inaccuracy.