How to Get a Free Credit Report
We have all at some point in time wanted to get a free credit report. Perhaps it was something small like a purchase for a new TV or could be something major like a car or a house. The truth is that in the US, credit is all that matters. There are three giant companies Equifax, TransUnion and Experian that are bound by law to provide a free report to everyone, once a year. When you use all of those up, what do you do?
If you were to ask me, there are ways to always get around paying for a credit report. It’s actually stupid to pay for one, unless you are needing something with a lot of details or you’re doing it for a client. A free credit report includes everything you need to make a purchase. You must also remember that in this day and age, there are a lot of internet crimes. Your information is not really safe. When you come to think of it, we shop at so many places, your information is stored in so many databases that chances of it getting compromised are significantly high.
Even though companies have state of the art servers, and they employ very smart people to ensure that those servers do not get compromised, breaches still happen. For this reason, you must always get a credit report at least once every six months. This will help you see if someone is misusing your identity to make illegitimate purchases. Your credit can get ruined. There is a lot at stake! So it is a smart idea to always stay on top of this.
There are literally hundreds of companies online that provide “free credit reports” – so what do you do? Who do you choose? Well, you don’t really need that many do you? The top three companies that I’ve already mentioned should be sufficient. But in case if you need more, just look for reviews. Make sure to go through a company that is reliable. You do not want to be typing your personal sensitive information on a website that is not 100% secure and trusted. There are also a lot of scams! Fake websites that are setup who collect your personal data and then misuse it. You must do your due diligence!
One more thing to consider is that every time you request a credit report, your credit score takes a hit! Yes, it’s weird isn’t it? I never understand why inquiring about your own credit score is such a pain in the ass. Your score will go down by a few points every time there is a credit check performed. Even little things like renting a car, where they check your credit are detrimental to your credit score. So you want to keep the inquiries at a minimum. Only check when necessary! However, if you must request a detailed report every six months to ensure that you are in good standing and that your personal information has not been compromised.