![]() If you play your cards right, you can even stagger them so you’re getting a free report nearly every quarter. But the reports aren’t automatically mailed to you-you have to ask for them! And since each agency keeps different details about you on file, it’s worth checking with all three. You’re allowed one free copy of your credit report every year from each of the major credit-reporting agencies we just talked about. These bureaus all operate independently, so their reports may be slightly different depending on the information provided by the lenders they used. Your identifying information (name, address, Social Security number)Ī credit bureau or credit-reporting company like Equifax, Experian or TransUnion will provide your information to whatever company may be considering giving you a loan or credit account.The credit limits and total loan amounts.The date you opened any credit accounts or took out any loans.It can be used by potential lenders to determine how risky it is to lend you money, which is basically just how likely you are to pay your monthly payments on time. Ready, set, let’s walk through everything you need to know about how to read your credit report.Ī credit report is kind of like a report card for your credit history. But don’t worry! We’ve done the heavy lifting so you don’t have to. Even if you’re debt-free and don’t care what big banks and lenders think of you, you still need to check your credit report for errors or signs of fraud at least once a year.īut sifting through your report can be pretty confusing, especially if you don’t know how to read a credit report or what kind of red flags to look for. especially since your score is tied to your credit report. But even though they’re nothing more than a measly “I love debt” score, you shouldn’t ignore them altogether. Here’s something you should know about us: We hate credit scores.
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