How to get your credit report?
We had talked earlier about the value of reading your credit report regularly. This time let me add how you can get access to them and what else you must know about credit reports. Consumer Action and Capital One offer the following tips for consumers to obtain and better-understand their credit reports:
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Credit reports can be requested by contacting any of the three major credit bureaus: Equifax, Experian and/or TransUnion. They maintain the information in their secure databases.
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A credit report is the equivalent of a consumer’s financial report card. Your report details your credit history as it has been reported to the credit reporting agency by lenders who have extended credit to you (including credit card companies, banks, finacial institutions, and even companies that may provide you services like utilities). Your credit report lists what types of credit you use, the length of time your accounts have been open, and whether you’ve paid your bills on time.
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Correcting mistakes on a credit report in order to repair an undesirable credit score takes time. While mistakes are made by others, it’s your responsibility to correct mistakes that may appear in your credit report. To do this, consumers must regularly obtain copies of their credit report, and contact each of the three major credit reporting bureaus to correct any misinformation. The process can be somewhat frustrating and time consuming but with determination and patience, you can fix the problem.
Recommended article: How to plan your personal finances to avoid going bankrupt?
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