What to Know About Your Credit Report
Your credit score is one of the most important factors used when applying for credit, a job, insurance or even a rental property.
Verifying that the information in your credit report is accurate, and disputing the items that aren’t, is key to keeping your score intact. It’s important to note that your credit score and credit report are not the same thing.
A credit report contains information that the reporting company receives about you. Credit scores are determined by a number of variables, including the items found in your report, the amount of available credit you have, your ability to repay bills on time and the number of credit lines you have open.
There are 3 major credit reporting agencies, Equifax, Experian and TransUnion. Although each reporting agency essentially does the same thing, they are not connected. It’s important to compare reports between the agencies as the information contained in each may be different. The agencies above are required to provide you with one complimentary report every year. It’s recommended to take advantage of this requirement and check your information regularly throughout the year to stay ahead of new items and to quickly correct any discrepancies.
To obtain a copy of your report, go to www.annualcreditreport.com and click on “request your free reports”. Follow the prompts to verify your identity and complete your request. You can also call 877.322.8228 or mail your request to Annual Credit Report Request Service in Atlanta, GA.