Free Consumer Credit Reports

Free consumer credit reports are available from all three major reporting bureaus by writing, calling or requesting one over the Internet. A free consumer credit report is provided to anyone, who requests a copy from the three major credit bureaus, one time from each bureau in a 12-month period. However, the person's score will not be included unless the person purchases it. Because they cost nothing and because so many lenders rely on the information, people should take advantage of this service to make sure their financial transactions are being reported accurately.

Finding out how a person's finances are being reported will help people stay on top of their them in order to ensure accuracy. Free consumer credit reports will provide information to each person based upon history, which also will enable them to check for errors. Writing a letter to the bureau, or using a dispute form provided by them can correct errors on report. After a person disputes an error the bureau performs an investigation by contacting the creditor involved. If the creditor doesn't respond, then the item can be omitted from the individual's report. If the creditor verifies the information then the disputed item will stay on the report. Therefore, it is a good idea for people who are disputing information to provide documentation along with the letter of dispute to prove the questionable item. When the dispute is settled by the bureau the person affected may add a statement to their report stating their side.

Identity theft has become an increasingly larger concern. Obtaining a free consumer credit report can help people identify if identity theft or fraud has happened to them. Warning signs might include new accounts that have been opened of which one is unaware or larger purchases unauthorized by the individual. Furthermore, there are credit monitoring services that advertise free consumer credit reports. Many have stipulations on receiving a 30-day trial period free including free reporting as well as a score. After the 30-day trial period the credit card used on the site will be billed a certain amount each month for continued monitoring. According to these sites if the customer cancels the account before the end of the trial period they will not be billed.

Because so many financial transactions are done by credit, it is important for them to stay on top of their records. Anyone can be proactive in this area by taking the time to write or go online and ask for their free consumer credit report. Then, they should look it over carefully and compare the bureau's history with their own records. If necessary, take time to dispute errors and perform follow-up to ensure a clean record with higher scores. Insuring that a financial history is accurate is good financial stewardship and people should seek to "honour the Lord with thy substance" (Proverbs 3:9).

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