How to Get a Free Credit Report (Yes, It's Possible! )
Contributed by Rachel Johnson
How to Get a Free Credit Report
Your credit is your buying power, so a free credit report can truly give you some insight into buying bigger and better in the future. It seems like you should be able to call up the three credit agencies and get a free credit report from them, it is your credit after all, but that just isn't the case.
Under law, you may qualify for a free credit report
If adverse action is taken against you by a company, such as denying your credit application, refusing employment or insurance, and you ask for your free credit report within sixty days, you'll be given the name and number of the credit agency and they will furnish you with a free credit report to show you what helped them make their decision regarding your credit.
You're also eligible for a free credit report if you are unemployed but plan to look for employment within the next two months, if you're on welfare, or if your report is inaccurate due to fraud. Other than these situations, you may not be eligible for a free credit report, and companies will likely charge you at least ten dollars or more for a copy of your report.
Luckily, times are changing and you will be able to get a free credit report!
By the end of 2005 you will be able to get a free credit report from each agency once a year. This is a new program that is overseen by the federal government. The roll out of this program began late in 2004 and will continue from states West to East until the end of December 2005. To get more information on this program, you may want to look on the website at www.annualcreditreport.com to see when residents of your state will become eligible for their free credit report. This is a great program that will hopefully give more people the ability to watch their credit, and respond accordingly.
