Credit Bureaus
Credit bureaus are the first place your potential creditors and employers will check. A positive, up-to-date credit file is your responsibilty, not that of a credit bureau. You create your credit file, it is not something that happens automatically. You have more control over your file than you may think.
All credit bureaus are governed by the Fair Credit Reporting Act passed by Congress. With the creation of new laws, the credit power is now in your corner. All credit bureaus, by law, must give you a complete, accurate report of everything, including your credit history and a list of every potential creditor and employer who has been given information from you file within the last year.
If you live in a city or metropolitan area with a population over 300,000 there can be over twenty credit reporting agencies or bureas serving that area. Although in most cases your complete files are maintained by the following three major credit bureaus.
- Experian – P.O. Box 2104, Allen, TX 75013-2104, 1-888-397-3742
- Equifax – P.O. Box 740241, Atlanta, GA 30374-0241, 1-800-997-2493
- Trans Union – P.O. Box 1000, Chester, PA 19022, 1-800-888-4213
Please note that these Credit Reporting Agencies may charge for the report. However, in some cases you may receive a free report; if you were recently turned down for credit based on the information received from them is only one instance. There may be other options. Check with each to determine their policies.
Free Credit Bureaus Reports!
That’s right, you can receive a credit report FREE from all three Credit Bureaus.
Once a year you are permitted to receive a free credit report from each of the Credit Bureaus. Just visit: AnnualCreditReport – Request your free annual credit report. … You may request your free credit report online, request your report by phone or request your report through the mail.
This one site allows you to request a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.
Credit reporting agencies do not evaluate your credit file, but make the information they collect available to others. This information in many cases is incorrect. It is up to you to take action to make certain that it is corrected and reverified.
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