Free Check

A free credit check is available from all three of the major national credit bureaus that report financial histories to potential financial lenders. There are many reasons to evaluate a personal financial report. Having access to a review gives consumers the opportunity to monitor their financial history for inaccurate information and to understand what lenders are basing their decisions upon. This information is easy to obtain with the instant access of the Internet. A free credit score is offered to any consumer who has been denied a loan due to a lender's evaluation of a report from one of the three major bureaus, Equifax, Transunion, and Experian. However, generally, only the report will be offered to the consumer. These bureaus, in the past, have argued that consumers would not understand the scoring process, and offered only the report so that a consumer could check for invalid information. But now, consumers demand to know and understand all of the report.

With the federal Fair and Accurate Credit Transactions Act of 2003 (FACT Act), a free credit check is now available to all consumers once a year. This law will apply to each of the three major bureaus, so consumers will be able to receive a summation from each one. A score is not included as a part of this mandate. Consumers who want to view the mark will have to pay an additional fee to have this information added to the report.

There are some agencies on the Internet that will offer a free credit score as a promotional tool for their services. This could be a score that this agency uses after evaluating financial information. While this is not the exact score that the bureaus may apply to a person's personal account, it can be a close numerical number. The agencies that offer this service are usually monitoring services that will systematically evaluate and report on your financial histories, allowing the borrower to keep an eye on his free credit check.

Consumers will want to monitor their information because errors can affect a person's credit rating. Also, identity theft can affect the history and reports. Getting online and getting a free credit report and possibly a free credit score will save time and possible frustrations in the future. Handling money in today's technological world can be a obstacle course filled with danger. But we don't need to fear what's ahead. Proverbs 3:26 says, "For the Lord shall be thy confidence, and shall keep thy foot from being taken." Put your trust in the Lord and work confidently to live debt free.

Add to: File Insurance Business article Teen Photo Images