Checking Your Credit Report

Checking Your Credit Report

Your credit report has a big effect on your ability to take out loans and other lines of credit. It can determine if you’ll be able to take out a mortgage, get insurance, or even sign up for a cell phone plan. Since it can have positive or negative influences on you, it’s important to be aware of how to check your credit report and see what’s on it.

What is a credit report?

It’s a detailed statement of your credit history and financial behavior collected by credit reporting companies.

Can I get my credit report for free?

Yes! Under federal law, you are allowed to request a copy of your credit report from each of the three major credit reporting agencies — Experian, Equifax, and TransUnion — every 12 months. It’s highly suggested that you take advantage of this option and check your credit report annually.

How do I get my credit report?

You have three ways of getting your credit report.

1. You can request a copy online at www.AnnualCreditReport.com
2. You can request a copy by mail from the Annual Credit Report Request Service
3. You can request a copy over the phone by calling 877-FACTACT.

What is on my credit report?

There are four main sections of your credit report.

1. Your personal information — your name, current and former addresses, social security number, birthdate, and phone numbers.
2. Your credit accounts — your current and historical accounts and what type of accounts they are, credit limit, account balance, account payment history, and name of creditors.
3. Public Records — foreclosures, bankruptcies, liens, and civil suits and judgements.
4. Inquiries — any inquiries made to see your credit report by yourself of other agencies.

Your financial advisor can help you further understand your credit report and help you work to be in better financial standing with creditors. At American Investment Planners LLC, we make it a priority to help you prepare for the best financial future possible. From investments to estate planning, we’re here to help with anything you may need. To schedule an appointment with one of our advisors, please call (516) 932-5130 or email info@americaninvestmentplanners.com.