(PRWEB) December 19, 2004
Under the Fair and Accurate Credit Transaction Act, the three national credit bureaus must provide a free, annual credit report to every consumer upon request. A national roll-out of the free credit reports began December 1, 2004. Depending on where you live, you may not be eligible for the free credit report until September 1, 2005.
If youÂre looking to make a major purchase, or if you suspect that someone may be using your personal information to apply for credit in your name, chances are, you are going to need a credit report. Each credit bureau agency may carry different information on your credit report, so it is often recommended that you check all three credit reports. AnnualCreditReport.com allows you to do just that, instantly and online (so long as you correctly answer questions about your credit history for authentication purposes).
Credit bureaus are not required to provide you with a free credit score, which is a major determining factor when youÂre buying or refinancing a home. Each of the major credit bureaus have provided the option of purchasing your credit score online during the free credit report process so that you can quickly review your entire credit information. Each credit bureau may reflect a different score for you, so it is a good idea to check all three credit scores. They also offer an easy vehicle to initiate credit disputes so that you can correct incorrect credit information while youÂre viewing the report. Accurate credit information is particularly important when youÂre trying to obtain a competitive interest rate and inaccurate credit information is lowering your credit score.
So do you still need to purchase a credit report? The answer is yes, if you want to continue to monitor your credit information throughout the year. Checking your credit report several times a year ensures its accuracy and helps deter against identity fraud.
Balanced Credit (http://www.balancedcredit.com) is a great resource to access all of your online credit information in case a free, annual credit report is not yet available in your area. It provides you with links to get your online credit report and/or online credit score from the credit bureau you choose as well as contact information for each of the major credit bureaus.
Contact Information:
Balanced Credit
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