A credit report is a useful important document. It helps you obtain a mortgage, a new car, and a student loan, and it can impact credit card approvals and maybe even a job application. Getting a free credit report can be safe if you are careful about the particular website from which you get it. Credit reports are provided by the three major credit reporting agencies: Equifax, Experian, and TransUnion. These may be the safest routes to obtaining your credit history, which ultimately affects your personal credit score. Note: Your credit history is different from your credit score.
Safely Request Your Credit History
The most common website from which consumers can receive free credit reports is AnnualCreditReport.com. In 2003, the Fair and Accurate Credit Transactions Act (FACTA) (also known as FACTA) was passed allowing every consumer access to an annual free credit report. The three major credit bureaus worked together to create AnnualCreditReport.com for this purpose. The website has SSL encryption and is considered a secure site. You may request your credit report from each agency on a yearly basis and some consumers request one from each one every four months to receive free reports on a quarterly rotation. If you want your credit score, you will have to pay a fee from the agencies. As of January 2019, some banks, like Chase and Wells Fargo, are offering eligible customers the opportunity to get their credit scores for free.
Getting Free Reports
Going directly to the three credit bureau agency websites (Experian.com, TransUnion.com, and Equifax.com) is another alternative. These websites maintain security features, but they do not offer free reports. Clicking on their free credit report link redirects you back to AnnualCreditReport.com. Each of these bureaus is required by law to supply consumers with a free credit report annually. If you are the victim of fraud, you may be able to receive free credit reports, and the law states that if a company takes action against you, you can receive free credit reports. This law includes insurance, or employment, or denial of credit, as well as any judgments or credit reports from collection agencies. Consumers must request the free reports within 60 days from the date of the suspected wrongful action.
Tips to Ensure Security
Phishing is a growing trend in the world of cybercrime. It is the act of portraying something legitimate to trick you into giving out your personal identification information, especially your Social Security numbers. Many of these phishing attacks are achieved through email or websites that look legitimate to the naked eye, but they are really set up to trick you. Here are some ways to protect yourself:
- Never click or proceed to a website from an email, as it will often lead to one of these fraudulent sites.
- Always look at the website's URL in the address bar. If anything looks suspicious, such as the misspelling of a word, do not proceed.
- Password protect your personal computers, pads, and mobile phones.
- Beware of posting or offering any personal information on social media. Never give out or post your Social Security number or your actual birthday.
The Bottom Line
Free credit reports are a great tool for consumers to track their credit scores. However, with cybercrime like phishing on the rise, it is important to be aware of the potential threats and only proceed to credible websites.