Credit Report Resources

What You Need to Know about Your Credit Report

Have you seen your credit report lately? Do you know what is lurking out there on your credit report?

Your credit report contains tons of personal information that can be used in a variety of ways by many businesses, people and institutions. Because your credit report will impact many parts of your life, it is important that you know what a credit report contains, how it is used, and the best way for you to obtain and monitor your credit report.

Each of the three national credit bureaus is required by Federal Law to provide you with a free copy of your credit report once every 12 months. Your credit report includes information on who you owe, how much you owe, where you live, and how timely you make payments to your creditors. A credit report, however, contains a lot more than just financial information; it shows whether you've been arrested, where you have lived, if anyone has a legal judgment against you, or if you have filed for bankruptcy in the past 10 years.

With the rise in identity theft, knowing how to monitor your credit report is more important than ever. Please use the information at Bills.com to learn how best to get your credit report, understand the information on it, and how to correct any inaccuracies on your credit report.

• How do I get a Hold of My Credit Report?
  There are three major credit bureaus that offer credit reports:
  Equifax
  1-800-685-1111
  www.equifax.com
  Experian
  1-888-397-3742
  www.experian.com
  Trans Union
  1-800-916-8800
  www.transunion.com
  To get a hold of your credit report, contact one of these three bureaus. Each bureau interprets your credit information differently, so you might want to get a report from all three.
• Can I get a Copy of My Credit Report at Any Time?
  By law, you're entitled to one free credit report annually from the credit bureaus. This can be accessed at: www.annualcreditreport.com - You can also request a free copy of your credit report if you were denied credit; however, you can only request a copy from the specific credit bureau that supplied the credit report to the creditor who denied you.
• What Information do Credit Bureaus Collect about Me?
  Credit bureaus collect your identification information, employment history, credit inquiries, and any additional public records and data.
• Will Requesting a Credit Report Affect My Credit?
  No. Requesting a credit report will NOT affect your credit. You have the right to look at your credit report without it affecting your credit or score. When you request your credit report it's called a "consumer pull" and has no affect on your credit. The only time when requesting a credit report can affect your credit is when you ask a possible creditor to inquire about your credit. This is because it implies that you're possibly opening a new line of credit.