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A record which contains information regarding all the previous money lending transactions of an individual is his/her credit report. Credit reports help in determining credit ratings which allow for easy (or difficulty in the) availability of credit from lenders, creditors and other money lending agencies such as credit card companies and banks. Having a high salary and having made timely payments of all previous debts lead to a more positive credit rating. Credit reports usually cost around 5 to 10 US dollars, but one could be eligible to a free copy of their report if they meet certain criteria. Credit reports can be availed from the three major credit reporting bureaus (agencies), namely Experian (previously named TRW), TransUnion and Equifax. One can be eligible for a free copy of their report after checking if they meet any of the below mentioned criteria: 1. A person is eligible to a free credit report if he/she is unemployed and is planning to seek a job within two months. 2. If an individual is on welfare, he/she can request a free credit report. 3. If a person believes that their credit file is inaccurate due to some fraud, then they can avail their free copy of credit report. 4. One can ask for their credit report if they show proof that they’ve been denied of rental housing, employment, insurance or credit due to some information in their report. 5. Also, a free credit report can be availed if a person shows that he has suffered any adverse action like unexpected increase in interest rate or reduction in credit card’s credit line. If a person meets any of the above mentioned criteria, they can avail their free credit report. Any one of the three major credit bureaus could be contacted to request a free copy of their report. All the bureaus have different criteria regarding ordering free reports. They also provide toll free numbers if a person needs further assistance or feels a complication in his/her situation. A person should carry the proof of the criteria (above mentioned) while requesting the free copy of credit report. Mailing the request to the bureaus might cost a little money, and the mail should be sent by certified mail with request for a return receipt. One should note that different lenders report the data to different bureaus. So, one might notice that the credit report of the agencies might be slightly different than each other and an information which is showed under a single report, might not be shown under another. The agencies can be contacted for their criteria or requirements for a free report as the requirements might vary from agency to agency. Also, individuals who were subjected to any adverse action should ask their report from the agency which provided information against the individual. An individual can avail him/herself to a credit report or free credit report if he/she meets a certain set of requirements. One can visit free-credit-reports.com to view more information regarding the requirements.
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