RSS Blog FeedFebruary is Free Credit Report Month
Posted at 4:45 PM, Feb. 13, 2007
As a reminder, February in Illinois is the start of a new calendar year for your free annual credit report. Under the Fair and Accurate Credit Transactions Act of 2003, you are entitled to a copy of your credit report from all three credit bureaus. Do note, however, that your FICO score will not be included, but may be purchased at an additional charge. Also as fair warning, this is the not the easiest task to do, but worth it.
To request your free copy, go to: www.freecreditreport.com, or www.annualcreditreport.com
Or you can buy your reports with your FICO scores at www.myfico.com for around $45. This option is worth it if you haven't seen yours in the past 12 months or so.
I strongly recommend checking your credit report regularly in order to identify false or incorrect information AND to be aware of any un-lawful activity. Believe it or not, about 25% of credit reports out there have serious enough errors on them to have caused employers not to hire applicants according to a Consumers Report article in 2005. Not knowing what's on your report can cause you more harm then you realize.
If you are not new to your credit report, I suggest using the free reports as a means to monitor your credit. Order one now and in four months, order a copy from another creditor, and again in another four months, order a copy from the last creditor. Its a free way to assure there is no monkey business going on with your credit. I even recommend signing up for the email alerts provided by TransUnion that will notify you of any noticeable changes or inquiries to your credit.
Managing your credit is more important now than ever. Jobs, car and mortgage rates, even what insurance companies decide to charge you can be affected by what your credit score is. Not to mention the growing crimes of identity theft. By being proactive, you reduce the chances of misuse and potentially save yourself thousands of dollars.
Julie Woodward-Trenker, ABR, ASP, RFS
e-PRO Certified Real Estate Sales Consultant
Coldwell Banker Residential Brokerage
Serving the Chicagoland Area
Direct: 773-469-2037
Direct fax: 773-622-8859
e-fax: 17737265461
eMail: julie@jwtrenker.com
www.REwithJulie.com
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