This week the Federal Trade Commission released a report showing the number of errors on credit reports which can affect a person’s credit score, and therefor their ability to get loans or get reasonable interests rates, etc. Which is a good reminder to check out your report for free from all three credit agencies, and check for errors. I once had a credit card incorrectly change my billing address, and that change showed up on my credit report. This may affect my credit score and may influence an agency I’m hoping to do business with.
Thanks to the Federal Trade Commission in the US, we can get a free credit report from each agency once a year, so why not remember to do so at tax time. You submit tax information once a year, this is a great time to remember to request your free reports for review. Not all websites are free for requesting a report, and some of them try to sell you other products. Ignore the catchy jingles from TV commercials, Annual Credit Report.com is the place to go in the US. This free information does not include your credit score, but did you know that your credit score could be different for each of the three agencies?
Luckily I was listening to the radio program Marketplace, as they gave advice about reviewing a credit report and how to have errors corrected. The interview with John Ulzheimer is president of consumer education at CreditSmart.com and was helpful to me, even though I have checked my report in the past.
Equifax has a glossary of terms you may need to review.