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What is a credit report?
A credit report is a detailed account of your individual credit history, compiled by a credit reporting agency. A credit report is used by a potential creditor to evaluate an individual's ability and willingness to repay debt. Banks, department stores, the IRS, the court system, doctors, hospitals, utilities, phone companies and other companies all submit payment information directly to the credit reporting agency.
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Who maintains my credit report?
Credit reports are maintained by private agencies that operate under rules set by the Federal Government in the Fair Credit Reporting Act. The primary credit reporting companies are:
- Equifax
- TransUnion
- Experian
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What information is included in my credit report?
Your credit report contains basic personal information, such as your full name, names you may have used in the past, your age or date of birth, Social Security number, address, and employment information. It will also list previous addresses and employers. Your credit report will contain any public records such as collections, liens, judgments, or bankruptcies.
Your report will list all open accounts or charge cards which must be paid in full each month; revolving accounts or credit cards, and installment loans. Each account will have a rating which shows whether it is paid to date or past due, as well as a 24-month history of late payments. Accounts that have been closed by creditors will also be noted.
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How can I get a copy of my credit report?
Effective September 1, 2005, you are eligible for a free copy of your credit
report under the Fair and Accurate Credit Transactions Act (FACT Act).
The FACT Act requires the three major credit reporting agencies to provide
consumers with a free copy of their own credit report each year.
To obtain a free credit report contact:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta , GA 30348-5281
www.annualcreditreport.com
877-322-8228
If you are a victim of identity theft, you may be eligible to receive additional
free credit reports.
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Who do I contact if there are errors on my credit report?
If you've noticed inaccuracies on your credit report, you will need to contact the company that provided the report and request the errors be corrected.
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Why should I monitor my credit history?
Your credit history may change frequently. Monitoring your credit history on a regular basis will alert you to potential fraudulent activity. Bad credit may affect your ability to qualify for loans.
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How can I monitor my credit history?
For your convenience, we've partnered with My Privacy MattersSM so that you can receive notification of key changes in your credit report.
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