Who Provides Free Credit Reports?

• Free credit reports are provided by TransUnion, Experian and Equifax. The Federal Reserve Bank of San Francisco explains that they are national credit reporting agencies, each of which tracks your credit use, demographic data and other information useful to creditors. Lenders buy this information when evaluating credit applications or screening you for credit-related marketing offers. You are also entitled to get it for free from any or all of the bureaus under the Fair Credit Reporting Act.
  
  

How Do I Get Free Credit Reports?

• The FTC website explains that the best source for free credit reports is annualcreditreport.com, an official website set up by the three bureaus to fulfill FCRA requirements. This site provides reports with no obligation to pay for anything else, and it does not make you enter a credit card number. The credit bureaus and authorized sites sometimes have free report offers, but these are tied to paid memberships or purchases. You enter credit card information and are charged for the purchase, or you rack up monthly fees if you do not cancel the membership.
  
  

How Often Can I Get Free Credit Reports?

• The official website provides one free copy every 12 months from each credit bureau. You may order your three reports together or spread out your requests. Privacy Rights Clearinghouse, a consumer rights website, recommends getting one free report at four-month intervals. You can respond to free credit report offers tied to promotions as often as you wish, subject to the requirements imposed by whichever company is making the offer.
  
  

Why Should I Get Free Credit Reports?

• Free credit reports allow you to find and dispute inaccuracies. Misreported negative information hurts your credit score and makes lenders turn down your applications for new loans and other accounts. The FTC site explains that you can ask the bureaus to fix or delete any mistakes you find. The FCRA requires them to act on your complaint within 30 days. Your credit report may also show signs of identity theft, such as accounts you never opened. You can immediately contact the involved creditors and put fraud alerts on your reports if you see suspicious entries.