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One Time Credit Report

Do you know what a One Time Credit Report is? When you do any applications for finance it is documented. You can find out what your history is by getting your one time credit report.

The credit report is a particular kind of document that shows your debt history. These credit reports are usually issued by any of the three official credit bureaus mandated by the US government: Equifax, Experian, and TransUnion.

How Does The One Time Credit Report Work

The US government passed the FCRA or air Credit Reporting Act to improver and to in crease consumer rights. FCRA gives the consumers the opportunity to transact with the credit bureaus. The transactions may include correction or fixing of inaccurate entries in their issued credit report; additional of data is also possible with these transactions. The FCRA also gives the consumers the opportunity to dispute false items with the banks and lenders.

What is best about FCRA is that they give the customers the convenience of obtaining free onetime credit reports. This free credit report can be obtained from a web site known as annualcreditreport.com. The three credit bureaus allows every customer to acquire their credit files from their websites, however, there is a payment for every access. Other websites like freecreditreport.com collects payment too for a copy of credit files.

Whats Needed To Obtain A One Time Credit Report?

The annualcreditreport.com allows the consumers to access their credit history from the three major credit bureaus without paying a single cent. Every access to any of the three major bureaus needs a Social Security Number, name, and other important information. The bureaus will then have to ask you three or four security questions to verify the identity of the person asking for a free one time credit report.

There is a limitation for the word ‘annual’ when it is used in this field. It means that the files should only be obtained once in a year. That is why, there are those who consider it advantageous to retrieve other credit files at the end of each calendar year.

One Time Credit Report Summary

You have to take note that these free credit reports are only issued to view your current credit standing and the opportunity to spot for some errors like incorrect names and addresses. Moreover, access to these files allows people to spot for items that should no longer be there, normally for a period of seven years.

So it’s important to regularly review your one time credit report for any mistakes or things that should not be on your report possibly due to fraud. Reviewing and questioning regularly will ensure your credit score and history are kept in good condition.