That snappy commercial with the hapless musician dressed as a pirate got you thinking that you, too, ought to check your credit report before you try to buy that car or get a home loan. However, is that web site the pirate guy sings about the best place to get your free credit report? Or, maybe you keep getting deluged with spam or pop-up ads offering free credit reports. Are these places legitimate? The best answer to all those questions is this: go to AnnualCreditReport.com to get your free, federally mandated credit reports.
The site pirate guy sings about in the commercial is part of Experian, which is only one of the major credit reporting agencies in the United States. If you rely solely on your Experian credit report, you may be missing out on two-thirds of your credit picture. (And Experian’s ‘free’ report requires enrollment in a credit monitoring service.)
You, as an American consumer, actually have three credit reports (and FICO scores), one each from the major credit bureaus—Transunion, Equifax, and Experian. Under the Fair and Accurate Credit Transactions (FACT) Act of 2003, these three agencies must offer every American one free credit report per year. And the only legitimate site for these federally mandated free credit reports is AnnualCreditReport.com. This site—sponsored by the three agencies—will step you through the process of obtaining credit reports from each bureau.
You can also request your free reports by phone (877) 322-8228 or through the mail:
Annual Credit Report Request Service
PO Box 105281, Atlanta, GA 30348-5281.
(Please note, the FACT Act doesn’t grant you free FICO scores.)
If you live in Colorado, Georgia, Maine, Maryland, Massachusetts, New Jersey, or Vermont, your state also has laws on the books entitling you to free credit reports. For instance, under Georgia state law, residents can request two free credit reports per agency per year. Check with your state consumer affairs office to see if your state grants you additional rights concerning credit reporting.
By law, you can also request a free credit report anytime if:
- You’ve been denied credit as long as you request it within 60 days of being turned down.
- You’re unemployed and intend to apply for a job within 60 days.
- You’re on public assistance.
- You believe your credit file contains inaccurate information due to fraud.
In these cases, contact the credit bureaus directly to obtain a free report.
- Experian (www.experian.com)
- Transunion (www.transunion.com/)
- Equifax (www.equifax.com)
You may need to submit proof—such as a notice denying your credit application—along with a letter stating your case.
The singing pirate guy is right. You should check your credit reports. However, avoid the scams and come-ons and try the federally mandated, no-strings-attached free credit reports at AnnualCreditReport.com first—then you can decide if you want to pay for additional reports, FICO scores, or other services like credit monitoring to help manage how potential creditors see you in the world.
