Quick Guide for Getting Your Credit Report Guide for Young Entrepreneurs
Contributed by Lisa Marie
One of the most important things a young entrepreneur can do before starting their own business is to check their credit report.
Getting a copy of your credit report is not as tough as you might think. All you need to do is ask! Well, sort of.
You definitely need to get your credit reports from the three main credit bureaus as they may all report things differently. The bureaus of interest are Experian, Equifax and Trans Union. You can simply go to their websites to get a copy. They will charge you a fee for this, usually around $25.00 each.
You can also access one of those "Free credit report" websites. However, you will need to agree to their "Terms and Conditions" before they will give you your credit report. The terms and conditions usually include a free trial subscription to their credit service. Credit Services could mean credit protection, credit monitoring, credit fraud protection among many others. This idea is fine as long as you remember to cancel your subscription after the free trial has ended.
Also, if you have applies for credit within that last thirty days and were denied, the creditor must send you , in writing , the place where they got their information from, normally one of the big three credit bureaus. On the letter, it will have a customer ID number in which you can enter directly into the corresponding website. This will give you a free copy of your credit report.
After getting a copy of your credit reports, you need to go through them with a fine tooth comb.
Credit bureaus, just like everything else, can make mistakes. Some are the fault of the credit bureau themselves, while other errors are made on the part of the creditors. Whichever the case may be, it is your responsibility as a consumer to check your credit report for inaccuracies on a yearly basis, as only you can fix them.
