Cracking the Credit Code
How to Read Your Own Credit Report
The first step in really repairing your credit is to find out where you stand. The best way to do that is to obtain your credit report from all three credit bureaus. Once you have them, you need to know how to interpret them.
Obtaining Your Credit Reports
There are three ways that you can obtain a credit report. You can send for it by mail, you can telephone for it, or you can order it online. You’re entitled to one free credit report each year from all three bureaus. In order to get this type of free report, you need to use the centralized source on the internet.
You’re also entitled to a free report if you’ve been denied credit based on information in the report. When you’re denied credit, the creditor will provide you with the name of the credit bureau or bureaus that they used and the contact information for obtaining a free report.
If you pay for your report, you can plan to pay around $10 for each one. Check with the specific company to determine how much they charge. You may also go through a company that allows you to get all three credit reports at a lower cost than the individual reports.
The following are the contact numbers and addresses for the three major credit bureaus. If you want to order your report by mail you can either fill out the appropriate form on the credit report website or you can send a letter. In the appendix you’ll find a sample request letter.
Experian
National Consumer Assistance Center
P.O. Box 2002
Allen, TX 75013
www.experian.com
888-397-3742
Equifax
Equifax Credit Information Services, Inc.
P.O. Box 740241
Atlanta, GA 30374
www.equifax.com
888-766-0008
TransUnion
Consumer Disclosure Center
P.O. Box 1000
Chester, PA 19022
www.transunion.com
800-888-4213
Free Annual Credit Report
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
www.annualcreditreport.com
877-322-8228
While you can request your credit report in a number of ways, many people prefer to use the online method. When you order your credit report on the Internet, you’ll be able to view it and print it out immediately. When requesting a report by mail or phone it may take up to 15 days to receive your report.