Benefits of a Free Government Credit Report

 

If you ask people about their credit record, many would say they do not know.  This is usually due to common misconceptions about credit reports.  One misconception is obtaining information is costly.  A second misconception is the average person does not need it.  Both of these common beliefs are false.  There are important reasons for you to see your report, and you can have it free of charge.  A free government credit report is there for you.

First, your credit history can affect many aspects of your everyday life.  You may want to purchase a home, or a new car, or apply for a loan.  However, credit standing not only affects large purchases and expenses.  Poor credit histories can even prevent you from obtaining a new phone service without a very large deposit.  Some employers and landlords also check credit, to make sure prospective employees and renters are good candidates.  

Second, a government free credit report is the best way to protect yourself against identity theft.  When you access your annual report, you will be able to see if there are negative marks that do not belong to you.  If someone has opened up an account, made purchases on credit, or had something billed to your name, a report will provide this information.  It will give you the chance to report or investigate identity theft before you suffer financial and legal repercussions.

Third, even honest creditors can make mistakes.  One example is a consumer paying a bill, yet the creditor still has the bill listed as unpaid.  Bills that are erroneously listed as outstanding can have a negative impact on your credit.  If you find bills you have already paid on your free government credit report, you will have the opportunity to contact your creditors directly and have them removed.  

However, the key to obtaining your free credit report gov is to know there are differences between legitimate reports and scams.  One common scam involves the large number of websites that charge consumers for these reports.  You may have received an advertisement for these kinds of scams in your email.  The fact you should keep in mind is a free credit report government site does not charge anything, and will not ask you for your banking or credit card information.

A second popular scam covers companies that offer to "fix" credit reports.  They may tell you they can remove negative marks so your rating will improve.  The fact is legitimate debt cannot legally be removed from anyone's record.  If you owe money to a creditor, you must pay your bill or make arrangements with the creditor.  

While it does not cost anything to view your government free credit report, it is also an easy process.  When you go to the site, you will be asked for basic information.  The only information you need to provide is your name and address, and your social security number.  If you moved recently, you must also provide your previous address.  As the website is secure, your information is also secure.  

As viewing your credit report is simple and free, there is no reason to not do it today.  It will only take a few minutes of your time.  As having your own credit history in front of you can prevent unnecessary problems and help you see if there is anything you need to resolve, it will also provide peace of mind.  If you find errors, you can begin to correct them immediately.  In contrast, if you view the report and find everything is exactly the way it should be, it will give you a sense of security.

Additional Information:

http://www.ftc.gov/bcp/edu/microsites/freereports/index.shtml

http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm

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