Free Credit Report 3 Scores

Free Credit Report 3 Scores

It is a good idea to check your free credit report 3 scores on a regular basis. You can do this by a variety of different methods. On an annual basis you can go to www.annualcreditreport.com to request a free copy of your credit reports from each credit bureau. The free annual reports you receive here will not include your credit scores.

You can also sign up for an account with a credit monitoring agency. These agencies will typically give you both your report and scores, and will notify you of any changes to your credit files. Your credit reports will give you detailed information such as:

  • Your current personal information such as your present employer, recent address, date of birth, and social security number.
  • Current lines of credit such as credit cards, car payment, mortgage, or accounts in collection.
  • Inactive or closed lines of credit. Your past accounts can stay on your credit reports for 7-11 years.
  • The date in which you opened each line of credit, your current balance, and if you pay your accounts in a timely manner.
  • Record of all inquires to your credit files for the past two years. Inquires to your credit file can only be accessed via your written permission. The inquires would occur in situations such as:
  • Applying for a new line of credit.
  • Applying for an apartment.
  • Applying for a new job.
  • Setting up new accounts for insurance, cell phone, or utilities.
  • Matters of public record like bankruptcy, liens, or unpaid child support.

How To Obtain Your Credit Scores

Once you have copies of your free credit reports, it is valuable to check your scores to see where you rank. The rankings are as follows:

  • 720-850 – Excellent – This range gives you the best access for gaining & negotiating financing terms.
  • 700-719 – Very Good – This range means you are still a favorable financing option.
  • 675-699 – Average – This range means you will usually qualify for your financing needs.
  • 620-674 – Sub-prime – This range means you may still qualify for financing needs, but with greater interest rates
  • 560-619 – Risky – This range means you will have a more difficult time qualifying and may need a cosigner or collateral.
  • 500-559 – Very Risky – This range means you will have a very difficult time qualifying for financing and need to take steps to improve your ranking.

What to Do If You Find an Error On Your Reports

If you find an error when checking your free credit report 3 scores you are protected under the Fair Credit Reporting Act (FCRA). This act requires both the company providing the incorrect information and the credit reporting agency to correct all errors. You will have to be the one to get the ball rolling.

Let’s say there is a credit card opened in your name that you have not authorized. You would need to contact the credit card company directly and file a dispute with each of the credit bureaus. The credit berceuse will research your dispute, usually within 30 days. The credit card company and credit bureau may request information from you to process your dispute. Keep copies of all information you provide, and a record of the name, date and time of everyone assisting in helping to resolve your dispute.

Once the investigation of your dispute is complete, the credit bureau will provide you with written results of the outcome, and a free updated copy of your credit report. This can take a lot of time and energy on your end as you may have to communicate with all three bureaus, but it is worth the time to ensure that your credit reputation is not damaged. To maintain your credit history, make a habit of regularly checking your free credit report 3 scores.