Why Bother With an Annual Free Credit Report?
There are still people that choose not to use their right to an annual free credit report. Because they have not had problems in the past with online fraud, maybe these people feel that they are safe from the criminals. Unfortunately they may be in for a shock. We should all be on our guard against identity thieves and fraudsters. Your annual credit report gives you the opportunity to ensure that your credit report is correct and that no one has applied for credit in your name.
Think how you would feel if you apply for a new mobile phone contract and you are refused. You might start thinking to yourself “Is this really happening to me?” You have previously had a good credit score and not been behind on any of your commitments. The truth is, the refusal was due to somebody stealing your ID and running up bills in your name. That’s what these criminals can do to you.
Your annual free credit report is also the key to saving money on loans and can give you the freedom to obtain luxuries like a cellphone contract or even a new house. Your credit rating is calculated from the information in your credit report, and a bad figure could mean you are unable to get a loan on a house or new car.
Don't feel intimidated by the credit report system. You can post a written request to the credit reference agencies asking them to send you your a printed copy of your credit report. The agencies to contact are Equifax, TransUnion and Experian. You need to do this once a year, free of charge. They will post your report back to you within six weeks of receiving your letter. If you need to get your annual free credit report in a timelier manner you can use the Internet and request it.