Credit reports are important, and so are credit scores. With your credit report and scores, you can keep tabs on your credit history. However, there are basically three major bureaus in the United States (namely Equifax, Experian, and TransUnion), and each of the bureaus has its version of your credit history and report. Interestingly, the Fair Credit Reporting Act (FCRA) now makes it possible for every U.S resident to get a free credit report from each of the major bureaus.
Tips to Ensure Accuracy of Your Free Credit Report
Lenders have the option to report to a bureau of their choice. The accuracy of a free credit report from a credit bureau depends on the number of lenders that report to it. Sadly, not all lenders report to all the credit bureaus. This means that your free credit report from each of the bureau may not be accurate.
How do you ensure that you get an accurate free credit report? You need to make sure you obtain a free credit report from each of the credit bureaus and compare. This will help you to observe the discrepancies and therefore get an accurate report and score.
Getting a free credit report from each of the bureaus is easy. In fact, the bureaus made it easier by creating a site that allows Americans to access their reports once per year, the annualcreditreport.com. Furthermore, the annualcreditreport.com allows you to get one free credit report from each of the bureaus.
Other Sources to Get a Free Credit Report
When thinking about getting a free credit report, the first place that should come to your mind is annualcreditreport.com, however, you can get a free credit report from a plethora of other sources. Some of the notable places to get a free credit report include your bank, your state and free websites.
Getting a free credit report from your bank is easy. However, you need to ensure that your bank offers a free credit report. Not all banks offer free credit reports but you can find out by enquiring from your bank. However, a free credit report from your bank may not be very accurate because it is not from all the three major bureaus.
A lot of sites offer free credit report but some of the sites do not really offer the features and benefits they claim to offer. For instance, Quizzle, Credit Sesame, and Credit Karma are legitimate sites that allow you to get a free credit report. But the credit report from each of these sites may not be accurate because each of the sites partners with one or more credit bureau but not all the bureaus.
If you really need an accurate free credit report, you should focus on getting free credit reports from all the three major bureaus. Thankfully, with so many sites offering free credit reports, you can get a handful of free credit reports, each from each of the bureaus or their partners and then compare them to get a comprehensive and accurate report.