Should you obtain a copy of your credit report? The answer of course, is yes. In this article, let’s discuss the importance of checking your personal credit report.

What is in your credit report?

What kind of information is contained in your credit report? Consumer credit reports contain information about an individual’s accounts and finances.

It also contains your employment history, salary history and other personal details such as your complete name, Social Security Number, date of birth, driver’s license number, your past and current home address, telephone number, etc.

All your dealings with past and present creditors, the types of accounts you have opened and your payment history are all reflected on your report. It also includes your transactions with insurance companies, banks, and other financial institution. Legal information such as records of bankruptcy, tax liens, foreclosure, alimony, etc are reported as well.

Who Checks On Your Credit Report?

Landlord, potential employers, insurance companies, government agencies, lending companies, credit card companies – all these organizations check consumer credit reports to examine their background and reputation.

Clearly, your credit report says a lot about you. A single false information on your credit report can damage your credit worthiness or reputation. Potential employers may refuse to hire you just because your credit report is unimpressive. Creditors may turn down your application if you have poor credit history. Therefore, it is your responsibility to make sure that your credit report is accurate and free from errors.

Check Your Credit Report

All consumers have the right to check the information contained in their personal credit reports. The Federal Fair Credit Reporting Act gives everyone the right to dispute incorrect or fraudulent information in their reports. In fact, if a credit reporting agency or a credit bureau refuses to take action, you may file a complaint to The Federal Trade Commission.

Obtain a copy of your report at least twice a year and carefully examine if there is any error or disputable records in it. Here are the contact details of the three major credit bureaus.

Equifax
P.O. Box 740123
Atlanta, GA 30374-0123
www.equifax.com

Experian
Consumer Opt Out
P.O. Box 919
Allen, TX 75013
www.experian.com

Trans Union
Name Removal Option
P.O. Box 97328
Jackson, MS 39288-7328
www.transunion.com

For a more in-depth discussion on credit report and your rights as a consumer, you may visit the FTC’s website at www.ftc.gov.