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Consumers Should Check Their Credit Reports At Least Twice A Year
The Federal Trade Commission, a government organization that works for consumers to prevent fraudulent, deceptive, and unfair business practices in the marketplace, encourages consumers to check their online credit report regularly. Checking your credit report can help prevent identity theft and also help identify errors on your credit report. There are also many ways you can qualify for a free credit score.
What Is A Credit Report?
A credit report contains the information gathered on your credit history,
by a credit reporting agency. This information is available to financial
institutions and other credit grantors by running credit
checks. In short, your credit report contains very important
information about you and most credit institutions make decisions about
you, by looking at your free online credit report.
You must first give institutions permission before they can view your full
credit report. That's because your credit report contains sensitive
information including your address, outstanding debts, record of payments,
and other information such as your social security number.
The best way to make sure your credit report is accurate is by checking it
at least two times a year. You can find out exactly what your credit
history indicates about you. It is easy to check your credit rating and get your free fico score.
By taking a look at your Equifax credit report
you can determine if there has been any credit fraud, identity theft or
even inquiries about you. That means you can find out exactly who has been
looking at your credit report.
As previously noted, you may be eligible to receive a free credit check from
one of the three major credit reporting agencies: Equifax, Experian
(formerly TRW), and Trans Union. Not all of the information on each credit
agencies credit reports is the same, so you may want to check your credit
report from Equifax, Experian, and Trans Union.
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