The Importance Of Obtaining A Copy Of A Credit Report
It has been estimated that the typical adult has within their possession an average of eight credit cards. In addition, the average credit card indebtedness is about $8,000.
Good credit is critical for the consumer today based on a reliance of credit cards and future major purchases. Examples of major purchases could include major appliances, an automobile, home, etc.
Therefore, it is important to monitor one's credit report. A copy of a credit report can be requested from one or all three credit reporting bureaus. In addition, when studying a copy of a credit report it is important to understand and study the credit report.
How To Obtain A Copy Of A Credit Report
First of all it is important to understand the value and importance of obtaining a copy of a credit report. A person's credit report contains the historical and present day information regarding any credit card, revolving charge accounts or other credit activity that the individual may have been involved with. The credit report will show all activity on opened and closed accounts.
In addition, when a person obtains their credit report, at least once annually, they will be able to review that report and look for any fraudulent activity. This is extremely important today because of the frequency of individuals using credit cards on the Internet and the increased possibility of identity theft.
With this in mind a copy of a credit report can be obtained in a number of ways. One of the easiest ways is to log on to a web site that provides the credit report. After answering a few questions to authenticate the identity of the individual, the person will be able to review their credit report on line. It is important to note that because of recent legislation, receiving a copy of a credit report for the individual can be obtained at no charge.
Also, if the individual is uncomfortable about going through the Internet to obtain their credit report they have two other options. One of those options is to call one of the credit bureaus and request their credit report over the phone. The other option is to write a letter requesting that the credit report be mailed. The three credit bureaus are Experian, TransUnion and Equifax.
What A Credit Report Contains
A copy of a credit report will contain a great deal of information surrounding an individual's use of credit cards, loans taken out and revolving charge accounts. Specifically, the credit report will indicate which accounts are open or closed, account numbers, if they are in good standing, timeliness of payments, credit limits, name of the accounts, etc.
In addition, the credit report will have the individual's personal information on it. Some of that information includes present and previous addresses, date of birth, aliases, other account holders, etc.
