Viewing Your Free Credit Report

The Fair Credit Reporting Act is a federal law that allows a consumer to view their free credit report one time each year. This law was signed to encourage consumers to check their reports for errors and to protect against identity theft. There are many websites and companies that allow consumers to view their credit report for free more often. Unlike the federal government, these companies sign consumers up for trial programs of their credit monitoring services. When consumers do not cancel these services they are billed a set amount of money for each day or per month.

You may also view your credit report for free whenever you are declined for an account by a lender. Should you ever be declined a credit card or loan the lender is required to provide the reasons why. Also, the lender is required to include which credit report agency was used to check your credit report. You may request a free credit report from this credit reporting agency. Should you wish to check your credit report at any other time than these two scenarios you will most likely need to pay for your credit report. The fee is quite nominal and depending upon the situation may be waived.