Free Credit Reports once every 12 months

[mistyweather02]

Don't forget to get your free credit reports this year!

You're allowed to get a free credit report from each of the 3 credit bureaus once every 12 months. If you haven't checked yours in a while go to annualcreditreport.com.

The reports are free, the score is not. Doesn't matter though, because they provide FAKO's and not FICO's. FICO's are generally the scores that lenders use to determine your credit worthiness.

Don't go to the sites that have the singing commercials on tv, because they AREN'T free.

AnnualCreditReport.com provides the credit reports in accordance with the Fair and Accurate Credit Transactions Act (FACT Act).

 

[getbent]

Thanks for the info. Hubby asked about getting this just yesterday. I would but since we are trying to buy a house and the financial guy has already pulled our report, I don't want to do it again. Looks bad to have your credit checked so many times in a short period.

 

[Chasey_Lane]

Thanks for the info. Hubby asked about getting this just yesterday. I would but since we are trying to buy a house and the financial guy has already pulled our report, I don't want to do it again. Looks bad to have your credit checked so many times in a short period.

Your lender should provide you with a copy of your credit report. There's no reason to get a free copy online... wait a few months or later in the year that way you're not duplicating the same report.

And, it doesn't hurt your credit as much as you think when it is pulled various times in a short period IF they are different vendors. If your loan officer is pulling your credit several times -- or another vendor a few times -- then it hurts...but just slightly.

 

[getbent]

Thanks for the info. It'll be the lender pulling the report. He's done it once and there were a couple things we had to take care of. He'll be pulling it again soon so we'll wait.

 

[mistyweather02]

Pulling your own report does not hurt you

Thanks for the info. Hubby asked about getting this just yesterday. I would but since we are trying to buy a house and the financial guy has already pulled our report, I don't want to do it again. Looks bad to have your credit checked so many times in a short period.

Pulling your own report does not create a hard inquiry. It's a soft pull, meaning it is not factored into your credit score. You can pull your own reports as many times as you want without damaging your score.

A credit pull is only negative when someone other than you pulls your report such as a lender, collection agency etc. This is called a hard inquiry that remains on your reports for 2 years but is generally only factored in your score for 1 year.

You can verify this with your financial guy. And good luck with your home purchase!

 

[mistyweather02]

Your credit is not static

Your lender should provide you with a copy of your credit report. There's no reason to get a free copy online... wait a few months or later in the year that way you're not duplicating the same report.

And, it doesn't hurt your credit as much as you think when it is pulled various times in a short period IF they are different vendors. If your loan officer is pulling your credit several times -- or another vendor a few times -- then it hurts...but just slightly.

A hard inquiry can cost as much as 2 points each. The only time that different vendors don't affect your score that much is if they are different vendors within the same market such as mortgage shopping or auto loan shopping within 30 days.

 

[15007875]

Hint:

Only pull one of the 3 at a time and you will be able to check your credit 3 times a year.

Jan pull Equifax.
May pull TransUnion
Sep pull Experian

Allows you to keep a closer eye on what's doing. Yes there are some things that may be reported to one agency and not the others but they all get about 99% of it.