It’s vital for you to have your personal credit report information for a number of reasons. The main one is to protect you from identity theft. If you have fast access to your credit report information, you can act quickly if there is any suspicious activity which causes you to suspect credit card fraud or account hijacking. Another reason is to help you know your credit picture, so you won’t waste your time trying to get a mortgage loan that you aren’t eligible for because of a low credit score, or so you can shop for the best rates if your credit score is high. You can get complimentary credit report information once a year from the credit bureaus, but you will probably want more frequent reports so you can stay on top of your credit situation.
But what’s actually in your credit report? Before you make the sound decision to receive your credit report information, you should have an idea of what you’ll be getting. Although all credit reports that come from different credit bureaus are different in their own ways, there are four basic sections you should expect to see in any credit report.
Ironically, the one thing most people will probably go straight for when looking at their credit reports won’t necessarily even be there. The FICO score, that famous credit rating that gives your credit power a numerical ranking between 300 and 850, isn’t even a standard part of a credit report. If you order a credit report from a credit agency, they will try to sell you this separately. However, your credit report package from creditreport.com comes with a free credit score.
Again, the actual layout of your credit report may vary. Remember that there are three major credit reporting bureaus, Equifax, TransUnion and Experian, and they each do things a little differently. You may wish to get credit report information from all three bureaus to get a complete picture. However the report is laid out, you should always be looking for these four basic sections and verifying the information provided.