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Obtain Free Credit Report

The U.S. economy is on the brink of a recession. All of us are finding it harder and harder to get by, with wages stagnant and the prices of goods continually on the rise, especially fuel. The mortgage meltdown is still going on and this is not making matters any easier for the U.S. consumer. With banks tightening their requirements for home loans as well, it's getting hard to get ahead. Whether you know it or not, there are many things which can influence your credit score and they can change it in a moment's notice. It's hard enough to keep your credit score high; you need to take steps to protect yourself.

At this moment, it's a buyer's market for homes. For sellers, things don't look so bright but buyers have the ability to negotiate some great deals right now. Many start house shopping without even knowing their credit score. This is a mistake, since it can lead to your being denied a home loan; and you may not even know why you were turned down. While if you're not in the market for a home right now, you may not think you really need to know your credit score. However, you can gain a lot by knowing your credit rating and if you are house hunting, you should first find out how to obtain free credit reports.

After having looked into the matter and inspecting your own free credit report, you will be better prepared to protect and improve your credit standing. Federal law stipulates that you may receive a free credit report every year. There can be information on these reports which is inaccurate; this is why it is important to look at yours every year. In some cases, these errors are easily remedied, in others more complex. However, knowing what exactly is on your credit report is the first step to improving your credit.

A recent addition to the Fair Credit Reporting Act requires all three of the credit reporting agencies – Experian, Equifax and TransUnion to provide consumers with an annual free credit report upon request. There are a lot of scams out there having to do with obtaining free credit reports and the FTC warns consumers not to fall for these schemes. The majority of websites offering free credit reports are scams and will use your personal information for their own nefarious ends or require you to pay for something which, by law should be free of charge.

These sites might ask you to buy something or join something in order to obtain free credit reports. Don't fall for it. There is a place where you can obtain free annual credit report cards, this is http://www.annualcreditreport.com. The government suggests this site as a place to obtain free credit report. If you had to pay for your credit report or feel that you were otherwise defrauded, file a complaint with the FTC. You might not see that money again, but you can help to prevent them from scamming other consumers.

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Puck Daddy's 2009 Free-Agent Frenzy Report Card - Yahoo! Sports

Consumers Burned By 'Free' Credit Report Web Sites - CBS 5