Prevent Identity Theft by Checking Your Credit Report

Understanding Your Right to a Free Credit Report

Under the Fair and Accurate Credit Transactions Act (FACTA), every American is entitled to a free copy of their credit report from each of the three major credit reporting agencies—Equifax, Experian, and TransUnion—once every year. This legislation was put in place to help individuals monitor their credit status and guard against identity theft, which has been on the rise in the U.S.

Why Regular Monitoring Is Crucial

Regular monitoring of your credit report can alert you to any unauthorized activities or errors that might affect your credit score. According to a report by the Federal Trade Commission, about 1 in 5 Americans find an error on at least one of their credit reports, which can affect their ability to obtain loans and may result in higher interest rates (FTC Source).

How to Access Your Free Credit Reports

You can obtain your free credit report in the following ways:

• Online: Visit AnnualCreditReport.com
• Phone: Call toll-free at 877-322-8228
• Mail: Send a request to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. Download and fill out the request form from the FTC’s website.

Reports requested by phone or mail are processed and mailed within 15 days.

What You Will See in Your Report

Each report from the three agencies may look slightly different but generally includes:

• Personal information: Your name, address, Social Security Number, and possibly your employment information.
• Credit accounts: Status of your current and past accounts including mortgages, credit cards, and loans.
• Credit inquiries: Entities that have requested your credit report, such as lenders.
• Public records and collections: Bankruptcies, foreclosures, suits, wage attachments, liens, and judgments.

Tips for Using Your Credit Reports

• Stagger Your Requests: To monitor your credit throughout the year, request a report from a different agency every four months.
• Review for Accuracy: Check for errors in your personal information, credit accounts, and public records.
• Dispute Errors: Each credit report includes instructions on how to dispute incorrect information. The agencies are required to investigate and correct verified errors typically within 30 days.

Beware of Impostor Sites

Only AnnualCreditReport.com is the authorized source for your free annual credit report from the three national credit reporting agencies. Be cautious of other sites that may look similar but could charge fees or collect your personal information for fraudulent purposes.

Additional Resources and Assistance

If you encounter issues or have complaints regarding your credit report or the process of obtaining it, you can reach out to:

• Federal Trade Commission (FTC): Visit their website for more information on credit reports and consumer rights (FTC Credit Information).
• Consumer Financial Protection Bureau (CFPB): Provides extensive information on how to read your credit report and what to do if you find errors (CFPB Resources).

By taking advantage of your right to free annual credit reports, you can take proactive steps to maintain your financial health and protect yourself against identity theft. Regular monitoring allows you to identify discrepancies early and address them promptly, ensuring your credit remains in good standing.