The government required the three credit bureaus to set up the annualcreditreport.com website so consumers can get an annual free credit report online. There is no charge for this credit report but you do have to pay extra for credit scores. If you want to know your scores this is not always the cheapest credit report. You can also get a credit report for free without scores if you are seeking employment or have been turned down for credit. If this is the case you will need to contact the credit bureau and make a request.
Credit scores are a quick way for lenders, insurance companies and even some employers to determine credit worthiness or possibility of default. You should know what your scores are so you will understand where they fall within the credit score scale. The three major credit reporting agencies Equifax, TransUnion, and Experian all offer tri-merged credit files with scores for a fee to consumers at any time.
You could enroll in a monthly credit monitoring or identity protection plan with a free trial to get a three bureau credit report with credit scores for free. Many consider these plans a ripoff since they are marketed as a free credit report. Some users have been alerted to late payments and other potential problems early on. Finding out about issues early on makes is easier to get them corrected. It is better to know about credit report problems before you actually apply for a loan.
Credit card companies offer similar credit monitoring services as part of your card membership benefits package.
No matter where you get your credit report it is a good idea to check it at least once a year for problems you may not be aware of. Being able to spot errors and get them fixed before you apply for credit is much better than finding out by getting declined. If you have bad credit you should work on it and monitor your progress to improve your credit rating.
Before ordering any credit report you should read the fine print and understand exactly what you are signing up for.