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Knowing Where You Can Get Free Credit Reports

Posted on: Monday, 9 November 2009, 07:00 CST

HOLLYWOOD, Fla., Nov. 9 /PRNewswire/ -- As the credit crisis worsens, financial analysts recommend consumers to consult reliable credit reporting agencies and check their scores regularly.

Many aspects of people's everyday lives are influenced by credit scores, from regular credit card applications, employment, or even mortgage loans. Financial bureaus are essentially delivering services needed by consumers, employers, as well as creditors to make decisions. They compile and monitor credit consumer activities and provide access to consumers whenever they need it.

TransUnion, Experian, and Equifax, three of the biggest financial bureaus today, collect and keep personal details of consumers. Details such as employer, income, addresses or any previous arrest records are kept for reference to the credibility and reliability of consumers.

After passing of the FCRA or Fair Credit Reporting Act, consumers were provided with easier access to an annual credit report. Providing opportunities for consumers to check on their credit scores or credit standing assists them in making proper decisions pertaining to the financial aspects of their lives.

An amendment to the FCRA, the Fair and Accurate Credit Transactions Act (FACTA), allows consumers to obtain a free credit report from each of the top three financial bureaus.

Choosing the right bureau will depend on your location and service arrangements. By consulting these agencies and regularly checking on credit reports, consumers can easily see which aspects require their attention and proceed to make the necessary credit repair.

Access to these credit bureaus have been made easy through the years, however, consumers are warned to be cautious of emerging fraudulent companies. As of 2008, almost 10 million people fell victim to this crime, which was a 22% percent increase from numbers reported in 2007.

Experts advise consumers to take caution and uphold identity theft protection when dealing with unfamiliar companies. Checking the credibility of a company prior to providing pertinent information is necessary to reduce possible identity theft.

Reliable financial companies are ones likely to provide extra counseling, security, as well as privacy along with their services. On the other hand, companies that rush customers for payment are best avoided.

To ensure safety and protection from identity theft, and at the same time, obtain a reliable credit report, visit http://www.free-credit-reports.com for more information.

SOURCE www.free-credit-reports.com

Source: PR Newswire

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