There are several companies offering Free Credit Reports with Credit Scores. First clue that it isn’t free is when they ask for your credit/debit card number.
In almost all cases, you are required to enroll in a trial membership to monitor your credit that unless cancelled within a limited period will charge your account from $15 to $30 monthly.
To get your free annual credit report afforded by the Fair Credit Reporting Act you have two options. With both options you will get a comprehensive Credit Profile (Credit Report) that does not place an Inquiry on your file nor will they include credit scores. Credit Scores can be purchased through the Online option we will discuss second (below).
About Scores! There are many different scoring models. Experian uses the PLUS Score formula that they developed. Mortgage Originators use other Scoring Models and may come up with scores that are very different. This topic will be discussed in another article.
The option we recommend most for ordering your Credit Profile is via telephone; 1-877-FACT-ACT (322-8228). Follow the prompts to enter your personal information, and the reports will arrive in your mailbox in about 15-days. In our work at Austin Credit Group we are not concerned with what a credit score is at the onset; the data provided enables us to determine what needs to be done to improve the client’s credit scores.
The second option is online at AnnualCreditReport.com. This top level web site will gather and direct content to each of the major credit bureaus, one at a time. As a system I have found it to have some quirks and bugs that have been in place for some time. When you use this system each of the bureaus will ask questions based on the content in your profile, that only you will know the answers, to confirm it is you. There are no do-overs or backing up if you input a wrong answer.
To get three up (all three bureaus data) summary reports, that does not contain what we need to do our work, the options are:
We hope you found this information to have value in your life. We recommend people request all three of their Credit Profiles annually at the same time to confirm the information contained in them is accurate. Should you be denied credit anytime throughout the year you will have the right to request the reports again within 60-days of the transaction.
Contact Austin Credit Group within 30-days of the date on your reports should you feel a professional evaluation of your credit reports would likely improve your financial position.