by Jackie Holmes

Created on: March 21, 2009

Not only is getting a copy of your credit report easy, it is also free! Thanks to the Fair and Accurate Credit Transactions (FACT) Act that was passed in 2003 any individual can access their credit report once every 12 months from all three of three recognised credit bureaus, these being Equifax, Trans Union and Experian. The purpose of the act was to help people to ensure that they hadn't been the victim of identity fraud, it also provides reassurance that the three companies are reporting your credit history accurately and fairly. The FACT Act replaced the earlier Fair Credit Reporting Act (FRCA) 2001 which had initially only allowed those on a low income to receive a copy, the good news is that the amended act entitled ANY American citizen to get their copy.

In order to obtain your free annual copy of your credit report, just visit www.annualcreditreport.com where you are able to request all three reports at the same time or a copy of just one. Often you will find that your report with all three agencies are identical, therefore you may wish to request each report at a different stage each year, this will enable you to monitor changes in your financial history without paying a single cent.

The service allows you to obtain your report in one of three different ways, the quickest way being instant access online, alternatively you could request a hard copy through the mail or even request that it is relayed over the telephone. You should be aware however that it can take up to two weeks to receive a copy through the post, so this method should only be used when there is no urgency in your request.

In addition to these free copies, there is also another way that you can receive a free copy of your credit report from each of these three agencies, this is to sign up for a free trial with each agency. Remember that each of these agencies will charge you if you don't cancel your trial within the fixed period, remember to record details of your subscription and pin it to your notice board, else your free credit report can end up becoming rather expensive!

One such free trial site is www.freecreditreport.com who will allow you to access your report free of charge for 7 days, but charge a hefty $14.95 per month if you forget to cancel, this site is actually a subsidiary company of Equifax so it is only this report that you will able to access. Trans union also offer a free trial at www.truecredit.com, where you will be entitled to a free 30 day trial, charged at $11.95 per month if you forget to cancel, of course this free trial will only allow you to access your Trans Union credit rating.

Another credible website is www.creditchecktotal.com where you are entitled to a 7 day trial which allows you to access your credit reports from all three bureaus, the site also provides you with invaluable advice on how to improve your credit rating and how to dispute any inaccurate details. Despite being a fantastic website, be very careful to cancel your free trial if you cannot afford membership, otherwise you will be in for a surprise with a charge of $29.95 for each month that your account is left open!

There are of course many websites that offer you a copy of your credit report, but be very careful that you are using a reputable source. Remember that the only reports worth your time of day are Equifax, Trans Union and Experian, and that your only truly free report is obtained from www.annualcreditreport.com. If you must use any of the other methods detailed, please remember to cancel your trial on time!

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