In the US, according to the Fair and Accurate Credit Transactions Act, 2003, all US citizens have a right to a free annual credit report from the three major crediting agencies. The credit reports are to be made available to the consumers for free.

These reports are important for your lenders because they use them to assess your financial standing, which tells them about how much money you can borrow and your ability to pay back loans. Before you ask for the credit reports and apply for any loans, make sure that your information is up to date, complete and accurate in all respects.

A credit report can be a proof for identity as well if an identity theft occurs. It occurs when somebody uses your name, Social Security number etc. for harmful purposes. You can use these documents to save your money and name by showing them to the proper authorities.

For the issuance of a report, it is a requirement that you submit your name, current residential address, Social Security number and other particulars. A credit company will ask you a certain question which will be known only to you and the company. Remember the information you give them is confidential. This information may vary from company to company because the source of information is different for each.

The reports are sent individually to every consumer. The reports can be ordered by the website on the internet, calling on their landline, or by regular mail. You will not be charged anything if you get a report this way but a minimum charge might be applicable if you go and see them personally.

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Article Source:http://www.articlesbase.com/credit-articles/how-to-get-a-free-annual-credit-report-online-1550808.html

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