When was the last time you ordered your credit report? If you’re like most people, it’s been too long. It used to be a lot more of a hassle to order your credit report. Today, it’s super easy —you can go to annualcreditreport.com, order yours for free, view it online and/or print it out — all within minutes!
Experts recommend that you order and examine your credit report at least once each year; two or more times a year is even better. Why? The information contained in your credit report is reflected in your credit score. Credit scores are important three-digit numbers used in individual lending decisions.
Your credit score also can affect the rate you qualify for on credit cards, auto loans and other types of consumer loans, such as mortgages. (Generally, the higher your credit score, the lower your interest rate.) Your credit history also can affect the cost of your insurance and whether or not you’re able to rent an apartment or even in some instances, get hired for a job you’re applying for.
The problem is that many consumers have some type of error that could potentially lower their credit scores and make borrowing more expensive. And without checking your credit report regularly, you won’t know the errors are there. That’s why it’s so important to order and view your credit report regularly. Each of the nationwide credit reporting companies — Equifax, Experian, and TransUnion — is required to furnish you with a free copy of your credit report once every 12 months. To order, visit annualcreditreport.com, or call 1-877-322-8228. You may order reports from each of the three credit reporting companies on the same day, or you can space out your requests throughout the year. One option, for example, would be to order your credit report from a different bureau every four months.