How is my free credit report created?
Your credit report is put together by a consumer credit agency, commonly called a credit bureau.
The bureaus get the information from the same creditors who request the reports and from public
records. And the credit bureaus merely compile the data, they don't make credit approvals.
Who can see my free credit report?
The Fair Credit Reporting Act defines the circumstances that are "permissible purposes" for
getting a copy of your credit report. Generally if you initiate a credit or insurance transaction or
if there's some other "legitimate business need", your credit can be checked. Your credit report
can also be obtained for employment purposes if you give consent.
Do the companies who send me pre-approved credit see my free credit report?
The companies don't see your report unless you accept their offer. The credit bureaus are
allowed to give them lists of people who meet certain criteria that the creditors ask for. If
you want to remove yourself from these lists, you can do so by calling 1-888-567-8688. This
covers the three major credit bureaus who issue the lists.
What if someone requests my free credit report without my permission?
If caught, they could fined and get up to a year in jail. And to prevent unauthorized people from
seeing your report, every request for it is noted in your report.
Why is an old closed account still in my free credit report?
Closed account records can remain up to 7 years if not paid as agreed and longer if paid as
agreed. Other information can also usually remain for up to 7 years except for bankruptcies,
which can remain for 10 years.
There's a lot of information in my free credit report, what's the most important?
What's most important in your credit report depends on who's looking at it. But generally you're
being judged on your reliability. So how consistently you've paid your bills and for how long,
is usually the most important aspect of your credit report.
What if there's an error in my free credit report?
If your credit report has an error or omission, you have the right to get the credit
bureau to investigate any non-trivial dispute. If the item is found to be in error,
your credit report must be changed to reflect the correction. If the resolution of the dispute
is unsatisfactory, you have the right to include in your report, a 100-word explanation of
the dispute.
To get "my free credit report" and free 30 days of credit monitoring, please go to
free instant credit reports.
