how to get a free credit report

[AbsolutPower]

There are a bunch of internet sites that will allow you to view your credit report if you subscribe to their credit monitoring services or whatever. The downside is that you have to remember to cancel the service within 30 or whatever number of days so they don't charge you for it. And the authenticity of such a report is sometimes questionable. Well, if you don't want to do that, here's another way that you can obtain a free credit report. Under the FCRA (Fair Credit Reporting Act), a person is entitled for a FREE consumer credit report for a couple of reason, one of which is if you "have been the subject of adverse action, such as denial of credit or insurance, within the past 60 days". So call your CC company and ask for a large increase in your credit limit. If you get denied ... they give you a claim number and you can call any of the large credit agencies like Equifax and you get a free report. If you are granted the increase, chances are very good that you don't have any fraud in your credit history, which is what most people what to check for anyways. Of course, if you live in CO, GA, MD, MA, NJ, or VT, you are entitled to a FREE credit report every year and you don't need to jump through any of these hoops to get one. Hope this helps someone.

 

[kulki]

very interesting post. Thanks. I will try it today

 

[fragarific]

Can you get a free report from each of the three main reporting agencies by being turned down for credit? It would be nice to check all the reports iff i don't have to pay so much.

 

[AbsolutPower]

<<Can you get a free report from each of the three main reporting agencies by being turned down for credit? It would be nice to check all the reports iff i don't have to pay so much.>>

Hmm .... interesting question. I'm not sure. Although I found the following paragraph in the actual text of the FCRA (from http://www.ftc.gov/os/statutes/fcra.htm):

<<
(b) Free disclosure after adverse notice to consumer. Each consumer reporting agency that maintains a file on a consumer shall make all disclosures pursuant to section 609 [§ 1681g] without charge to the consumer if, not later than 60 days after receipt by such consumer of a notification pursuant to section 615 [§ 1681m], or of a notification from a debt collection agency affiliated with that consumer reporting agency stating that the consumer's credit rating may be or has been adversely affected, the consumer makes a request under section 609 [§ 1681g].
>>

I interpret this to means that EVERY credit agency that keeps a file for you has to give you a free copy of their report.

 

[fragarific]

I would interpret it the same way. Thanks.

 

[vegetation]

If you really don't need to know your report, then don't look at it. Just requesting a look will lower your rating! And if you get denied a higher line of credit by your CC company upon request, then that takes points off too, which may take months or years for you to recover.

 

[fragarific]

it may lower whatever stupid score they use. but on the report it clearly shows a difference when you and a creditor both request it. it's a lot worse for there to be repeated creditors requesting your report than you repeatedly asking for your own.

with whats written in the first post after the whole deal is over there would be a creditor and an owner request for the report(i believe)

 

[jrichrds]

I heard requesting your own credit report from one of the big 3 credit reporting agencies will not go onto your credit report/lower your credit score. On the other hand, if you use a credit monitoring agency, the reports they request for you will go onto your credit report as an inquiry and lower your credit score.

That's what I read somewhere. Any experts on credit ratings here?

 

[dealonfire]

I have posted this before.. here it is... Good deal.. for us unemployed still.. damn!

Trans Union Corp.
2 Baldwin Place, PO Box 1000
Chester, PA 19022
800 888-4213

Equifax Credit Information Services
PO Box 740256
Altanta, GA 30374
800 840-1323

Experian
701 Experian Parkway
Allen, TX 75013
1 888 Experian
1 888 397-3742

There are a number of conditions under which you may request a free copy of
your credit report:

= If you have been denied credit as the result of information provided by a
credit reporting agency within the past 60 days;
= If you are unemployed and plan to seek employment within 60 days;
= If you are on welfare;
= If your report is inaccurate due to fraud;
= If you are a resident of Colorado, Maryland, Massachusetts, New Jersey, or
Vermont, you may request a credit report free of charge once per year from
Equifax, Experian and Trans Union. If you are a resident of Georgia, you can
get two a year for free.

 

[Thyme]

Yes, you are entitled to a free credit report of you are denied. However, if you make a frivilous request and it is denied, if you are trying to lend for a house or car, the lender will see that someone else denied you credit.

It doesn't affect you negetively to check your report, but it is only nessisary every 5 to 10 years. It's largely good to make sure there aren't any errors, such as credit cards that haven't been charged to in 5 years but still are withstanding (always cancel the accounts). It's a good tool, and the only way it affects you negetively is if a lender seems it's suspicious, so don't be getting it once a month.

Also, if you find an error, it will be investigated and if it cannot be found within either 30 or 60 days (I can't remember), it will be removed from your report.

People and computers make mistakes. Looking for errors is a good idea once every 5 or 10 years.

 

[Princeman]

I was just turned down for a Amex Blue because I paid off my credit cards and closed the accounts. I had an inadequate credit history for not have monthly bills. Apparently they only want people who are in debt. Told me to get some credit cards and pay the balances off every month for a year and re-apply. I get offers for Mastercards and Visa's in the mail every day. Go figure.

 

[Thyme]

Yes, that can be a problem. When you're 18, you should buid up credit by buying one small thing a month on the credit card and paying it all off. Also, if you get married, you should make sure you cosign so that you in case of divorce, you won't have to start off with no credit.

 

[RossMAN]

Here's a similar thread, Get your credit score for FREE!

 

[kenja]

Thanks for the reminder, dealonfire. This is definitely worth doing.

Over the years, Sears (twice!) claimed I owed them money because someone else had my first and last names (but different middle initial). (Now when a Sears cashier asks if I'd like to open an account, I raise my voice and say: "No way will I deal with the Sears credit department again!")

Also found I'd been falsely accused of being more than 60 days late with a mortgage payment, twice!

 

[dealonfire]

it was pretty scary in my case. some one in canada had all my information and called my credit card company to request a replacement card to be sent to him. the firstusa did send him the card but contacted me for security purposes.. only then I found out someone had stole my information from somewhere, but I don't know where.. he must had my "mother's maiden name" too..

it's good to check your credit report to find out if someone else is using your name opening credit accounts. you should be able to get free credit report every time you are denied credit..

just apply some card you know you won't be approved then request free credit report afterwards..

 

[Thyme]

<< just apply some card you know you won't be approved then request free credit report afterwards.. >>


It's better to spend the few bucks or some free one than to have a potential lender see you were denied.

 

[Boomer2]

<< It's better to spend the few bucks or some free one than to have a potential lender see you were denied. >>



Not true at all. Lender's generally don't care if you were denied credit. I use the 'apply for a card and put in poison pill' method frequently to get a free report. If I don't sabotage the application, I get credit just fine. Didn't have a hiccup on any of three mortgages in five years, either...

...except for being branded with a judgement that wasn't ours. Some lady in town has the exact same name as my wife and the title company did a generic public records search without digging any deeper. You'd think 'judgement against {wife's full name} and John Doe {last name}' would be a big tip-off....

 

[fragarific]

<<

<< It's better to spend the few bucks or some free one than to have a potential lender see you were denied. >>



Not true at all. Lender's generally don't care if you were denied credit. I use the 'apply for a card and put in poison pill' method frequently to get a free report. If I don't sabotage the application, I get credit just fine. Didn't have a hiccup on any of three mortgages in five years, either... >>


We've had a few people from this forums directly quote the creditors saying why they weren't able to get credit. It was because of too many attempts for credit recently.

 

[zeruty]

I just got a letter from a credit card company today saying I was denied because of two reasons, insufficient credit history, and too many credit inquiries in the past 12 months
it's really irritating...me and my friend should have the same credit history...
make about the same amount of money, I've had my cell phone for much longer (if that helps any), applied for the same cards....but he got approved for one and then like three others, I just keep getting denied. it's crazy I dont understand it. we both got denied at sears which is supposed to be the easiest place to get one at.

 

[IBhacknU]

credit cards promote evil.... pure EVIL!

 

[TurtleMan]

umm my citibank is offering free credit report since im a college student ...