How to get a copy of your credit report

Your credit report is as much a part of your identity as your social security number because it contains all of your financial history since your first opened a credit account. The report is vital to your financial health because credit bureaus use information recorded in your report to calculate your credit score - the all-important number lenders use to determine your creditworthiness.

Did you know that you actually have three credit reports? Each credit bureau - TransUnion, Equifax, and Experian - creates a unique report based on the financial information they collect about you. Because of this, you need to obtain a copy of all three reports In order to review your credit history.

Free credit reports available to consumers

In 2003, Congress passed the Fair and Accurate Credit Transactions Act (FACT Act) which gave every U.S. consumer the right to one free credit report per credit bureau every year. To comply with the law, the three credit reporting agencies created a website, www.annualcreditreport.com, where you can go to request your reports.

Purchasing credit reports to check your information

Many people like to check their credit report more often than once a year and thanks to the services offered from the credit bureaus, this is easy to do. Simply sign on to one of the agency's websites (see website information below), and order your report. The fees to order your report vary from bureau to bureau. If you prefer, you can order a copy of all three of your credit reports from any bureau for an additional cost.

Importance of credit report accuracy

Since the data in your credit report is directly linked to your credit score, it's vital that the information in the report is correct. If you find any records that are incorrect, it's easy to correct the information using the credit bureaus' online dispute forms.

Today, with identity theft on the rise, it's even more important to review your credit report than it was in the past. If you suspect that you may be the victim of identity theft, you can see if there is any fraudulent activity on your report and request a fraud alert immediately. You might also consider signing up for a credit report monitoring service from one of the three credit bureaus which will entitle you to email or cell phone alerts if any significant new activity shows on your report.

To find out more about obtaining a copy of your credit report, go to: