According to survey reports, it has been found out that nearly twenty percent of all the people have errors in their credit card reports. Thirteen percent of such people can manage to raise their scores by attempting to rectify the errors and about five percent of the people have credit reports errors that can create a negative impact on their ability to receive credit from financial institutions like banks and private lenders. To avoid such adverse situation, people are advised to get their credit reports that can usually be obtained free of cost.
Why should I request my credit reports?
People can request free credit reports from all 3 bureaus every year and obtaining such scores will not create any kind of impact on the credit score. Some errors in the reports may hinder the ability of consumers to request for credit and in some cases people are prevented to enjoy easy terms and conditions when requesting for credit from banks. Obtaining reports will help you fix the errors and make your financial history error free.
Obtaining credit reports and disputing the errors
People are able to obtain their credit reports from the three major bureaus i.e. Trans Union, Experian, and Equifax. These reports can be accessed for free every year and to get the reports, people can log on to popular financial bureaus websites, fill the required information, and get the detailed layout of the report. It is advised not to trust every website as there are many scammers over web that may misuse the confidential information provided. Annual credits reports from the three bureaus are absolutely free and logging onto government authorized sites will not require any credit card information to obtain the reports.
When reports are obtained, cross check details and look for any errors. Usually the credit score is not displayed or mentioned in such reports but one can always obtain the credit score by paying a specified amount to any of the 3 bureaus.
Obtaining multiple reports:
Consumers can always get the three reports once annually and most of the people usually get the reports together once in a year. But people can also get separate reports after specified intervals. The reason behind this is that credit reports usually get modified various times each year because people change personal information and request new cards thus leading to a change in reports many times a year. by getting reports after small intervals one can make sure that the credit report is error free and the information mentioned on the reports is accurate and up to date.