A lot of consumers are wondering how often they can receive a free annual report. Most individuals think that they can only receive three free credit reports each year. But is this true? What other situations can allow a consumer to receive more than three free credit files in a year? Let us discuss the answers to these queries in the remainder of this article.
Three Free Credit Reports
The Fair Credit Reporting Act mandates the three credit bureaus to provide one free annual credit report score to each consumer. This means that each individual can expect at least three free credit reports every year – one from Experian, one from Equifax and one from TransUnion.
You may choose to get your free credit reports all at once. This is especially true when you want to compare your credit records from the three credit bureaus to monitor any discrepancies or inconsistencies. You may also opt to get your credit report every four months. This way you can have a lot of chances to check and review your credit records all year round.
Still, should you desire to see your credit records more frequently, you can do so as long as you pay a minimal fee for every extra credit report you will be requesting. You can contact the three credit reporting agencies using your phone, via mail or through the Internet to ask for a copy of your credit report anytime of the year.
But is it also possible to get more than three free credit reports in a year?
Special Situations that can Provide Free Credit Reports
The answer to the question above is a definite yes. Allow us to discuss special situations that will provide you an opportunity to receive more than three free credit reports in one year.
Situation 1: If you applied for a loan and you were turned down by a lender, you can request for a copy of your credit report score from one of the credit bureaus. You should send your request via mail and you should enclose the declined application to your letter. You need to send this mail within 30 days of your loan rejection.
Situation 2: You can also request for a free credit report if you are:
(b) Planning to apply for jobs within the next 60 days;
(c) Receiving Public Welfare Assistance;
(d) When you see bad credit history in your credit records that you would like to dispute, or
(e) When you have suspicions of credit fraud.
Situation 3: If you are a resident of the state of Georgia, you can expect to receive as much as six free credit reports each year.
Reasons for Reviewing Credit Files Regularly
Now, why is it important to constantly monitor your credit records? The most important answer to this is to protect your financial prospects. We are all aware that credit scores are greatly associated with available credit lines. If a person has excellent credit ratings, he will surely have a wide array of credit accounts to choose from. However if a person has a low FICO score due to bad credit history, for sure he will find it difficult to get approved for credit lines.
So, if you have a high credit score, you should resolve to maintain it that way. But if you have less than perfect credit ratings, immediately work on regaining your credit worthiness by taking free credit repair sessions. Through these free credit repair services, you can receive practical advice in solving your credit problems and rebuilding your credit reputation. Soon, by following the tips provided in these sessions, you can eventually regain your credit worthiness and enjoy once again a vast array of credit options.
We hope that this article helped answer the common question regarding how often a consumer can receive a free credit report.
About the Author:
Suzy Vanstrusen is a credit analyst and a writer on the website EZCreditRepairSolutions.com. She has been providing consumers with tips and wise information about credit repair as well as helping you out more with your bad credit loans. Copyright © 2010