One of the first step to help you better understand and improve your credit is to get your credit reports. Your reports give you a better understanding of what’s going on, and offer you the opportunity to spot mistakes that you may want to dispute.
A credit report is a record of your borrowing and debt repayment activities. There are three main reporting agencies in the United States, i.e., Equifax, Experian, and TransUnion; and each keeps their own record about you.
Your report lists credit accounts such as your mortgages, student loans, car loans, personal loans, and credit card accounts; the balances; and history of payments. It also contains major credit activities such as bankruptcy and tax lein.
Financial institutions, such as lenders and credit card companies, use the information in your credit report as the main reference point when you apply for a loan or a credit card.
The best and absolutely free way to get your credit reports from all three reporting agencies is through AnnualCreditReport.com. To get your report:
Although the credit reports are free, you can only get one report per year from each credit bureau. A strategy to help you monitor your credit more evenly is to order only one credit report at a time, wait 4 months, then order a new credit report from another bureau. For example, you can use the following pattern:
That was easy wasn’t it? Now you can sit down and review your credit report at your own pace. Additionally, you can also check your credit score for free and take actions to improve your credit score.
If you want an easier method of accessing your credit report, you could get an Experian credit report from Quizzle.com. Quizzle is an absolutely free way to access your Experian credit score and report. Below is a screenshot of what you’d see after you join Quizzle.
Another method is to get credit report card from Credit Karma. Note that this is not an official credit report, but the information provide by Credit Karma gives you a good indication of what contains in your credit reports and they provide a lot of good information to help you better understand your credit.
|700 - 750||Good|
|640 - 700||Average|
|580 - 640||Poor|