How to get a free credit report and what to look for when you get one.png

Did you know you can get a free weekly credit report right now?

Yup! Now through April 2021. This is especially important to consumers right now as COVID- related scams are on the rise and unemployment is in the tens of millions. Keeping an eye on your credit report and score, as well as your financial picture is crucial.

Why do I need to pull my report?

Pulling your report will give you a better picture of where you stand, debt-wise. It will show who you owe to, open accounts, your debt to income ratio, and other vital info you need. It will also show if someone is pulling your report illegally (more on that in a second) and if there is debt being falsely reported.

So is this just like my credit score?

No. A credit score and a credit report are different. Your score will be on your report. But your report contains so much more information.

Where do I get it?

You can go to the three reporting agency websites, Transunion, Experian, Equifax and set up an account. It’s simple and only takes a few minutes.

What do I look for when pulling your report?

Charges you already paid off.

These are debts you paid such as an old credit card, a car, or your student loans.

Debts that are erroneous.

There may be an error. A debt may be reported as yours when it isn’t. Or you may have been the victim of ID theft and you didn’t know it.

Check for things like incorrect personal information.

Your name, any names you’ve previously gone under (like a maiden name or maybe you had your name legally changed), your current and former address, your employment, etc.

Debt that is older than seven years.

I pulled my report and I had no car payments, that’s because I bought my last car in cash and the car before that was purchased over a decade ago.

Duplicate accounts

It happens; sometimes things get reported twice.

Accounts that you've closed that aren't showing as closed.

Maybe you have a credit card you closed that is still showing as open. Get this corrected.

How do I dispute incorrect info?

This should be done in writing. You can download a sample letter from FTC.gov.

Include copies of any documents you have that support your claim. Here’s an excerpt from the FTC:

“In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information and request that it be removed or corrected. You may want to enclose a copy of your report with the items in question circled. Send your letter by certified mail, “return receipt requested,” so you can document what the credit reporting company received. Keep copies of your dispute letter and enclosures.”

The credit reporting agency will need to investigate this claim, usually within 30 days. They will give you the results in writing.

You will also need to follow these same steps and dispute your claims with the company reporting you to the credit agency. (I had to do this with a cellphone company once. It was very easy and quickly corrected.)