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What is a credit file disclosure?
A
credit file disclosure provides you with all of the information in your
credit file maintained by a consumer reporting company that could be
provided by the consumer reporting company in a consumer report about
you to a third party, such as a lender. A credit file disclosure also
includes a record of everyone who has received a consumer report about
you from the consumer reporting company within a certain period of time
("inquiries"). The credit file disclosure includes certain information
that is not included in a consumer report about you to a third party,
such as the inquiries of companies for pre-approved offers of credit or
insurance and account reviews, and any medical account information
which is suppressed for third party users of consumer reports. You are
entitled to receive a disclosure copy of your credit file from a
consumer reporting company under Federal law and the laws of various
states.
How often can I request a free credit file disclosure through this website?
You
are entitled to receive one free credit file disclosure every 12 months
from each of the nationwide consumer credit reporting companies.
Equifax, Experian and TransUnion. This free credit file can be
requested through this website, by phone or by mail.
How else can I request my free annual credit file disclosure?
If
free credit reports are available in your state through the Annual
Credit Report Request Service, you can request a free annual credit
report by phone or mail and it will be mailed within 15 days. However,
you can receive a report immediately by using this secure website.
Click on this link to find information on how to request a free annual
credit report by phone or mail.
Should I order all my credit file disclosures at one time or space them out over 12 months?
You
are entitled to receive one free credit file disclosure every 12 months
from each of the nationwide consumer credit reporting companies through
the Central Source. It is entirely your choice whether you order all
three credit file disclosures at the same time or order one now and
others later. The advantage of ordering all three at the same time is
that you can compare them. (However, you will not be eligible for
another free credit file disclosure from the Central Source for 12
months.) On the other hand, the advantage of ordering one now and
others later (for example, one credit file disclosure every four
months) is that you can keep track of any changes or new information
that may appear on your credit file disclosure. Remember, you are
entitled to receive one free credit file disclosure through the Central
Source every 12 months from each of the nationwide consumer credit
reporting companies Equifax, Experian and TransUnion so if you order
from only one company today you can still order from the other two
companies at a later date.
What is a credit score?
A
credit score is a complex mathematical model that evaluates many types
of information in a credit file. A credit score is used by a lender to
help determine whether a person qualifies for a particular credit card,
loan, or service. Most credit scores estimate the risk a company incurs
by lending a person money or providing them with a service
specifically, the likelihood that the person will make payments on time
in the next two to three years. Generally, the higher the score, the
less risk the person represents.
How can I get my credit score?
You can purchase a credit score by contacting one of the nationwide consumer credit reporting companies.
Equifax - www.equifax.com
Experian - www.experian.com
TransUnion - www.transunion.com
You can also purchase a credit score when you request your free annual credit report through this website.
What about companies that claim they can improve my credit report for a fee?
The
Federal Trade Commission (FTC) cautions consumers to be wary of
companies that make claims regarding credit repair. These companies,
commonly called credit clinics, don't do anything for consumers that
consumers cannot do for themselves at little or no cost. Beware of any
organization that offers to create a new identity and credit file for
you. The FTC and state attorneys general have filed actions against
those who pursue these fraudulent practices. Here are some warning
signs that the FTC and others say consumers should look out for to
determine if they might be dealing with a credit clinic:
An organization that guarantees to remove late payments, bankruptcies, or similar information from a credit report
An organization that charges a lot of money to repair credit
A
company that asks the consumer to write to the credit reporting company
and repeatedly seek verification of the same credit account information
in the file, month after month, even though the information has been
determined to be correct
An organization that is reluctant to give out their address or one that pushes you to make a decision immediately
For
a helpful brochure about credit clinics, you can write to the Federal
Trade Commission, Sixth and Pennsylvania Avenues, N.W., Washington,
D.C. 20004 and request a brochure titled "Credit Repair: Self Help May
Be Best."
Am I entitled to a free credit report under state law?
In
addition to consumers who are eligible for a free credit file
disclosure through the Annual Credit Report Request Service; consumers
in some states are eligible for a free credit file disclosure under
state law. The following states have laws that make free credit reports
available to consumers: Colorado, Georgia, Maine, Maryland,
Massachusetts, New Jersey and Vermont.
How do I contact the Federal Trade Commission (FTC)?
Federal Trade Commission
Consumer Response Center
Room 130
600 Pennsylvania Avenue, N.W.
Washington, D.C. 20580
www.ftc.gov/credit
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