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Free credit reports online are slick marketing gimmicks. That's a pretty strong statement but it is true. There is only one true source recommended by the U.S. Government for a free instant annual credit report. Only one! The others are marketers trying to get you to sign up for services in order for you to get your credit report. And, even the government approved provider charges extra to give you your credit score.

I am sure you know that your credit report is actually a complete record of your credit transactions. It contains the information sent in by various financial and government sources which have been added to credit bureau records. This credit report gives detailed information about the financial position of your personal and business activities. Your credit report hides nothing. It reveals the positive and negative. On the positive side, your credit history may expose mistakes and errors that can be corrected and, once fixed, can improve your credit score. see your credit report We know that a good credit report is an added advantage if you need to buy a big-ticket item. For instance, if you are considering buying a house in the near future you need to have a strong credit history. A strong credit history is just about the only way to show banks or money lenders that you are credit worthy. How often should you check your credit history and credit score? Keeping on top of your current credit report and credit score is a must do practice. It is a good practice to check your credit report at least once every six months.

I said earlier that free instant credit reports online are marketing gimmicks but you still might consider signing up for a credit monitoring service some of them offer. Let me explain my contradiction. While these can cost upwards of fifty-dollars a year, you get some important advantages. These services constantly monitor your financial activity and accurately notify you as it occurs. This allows you to see if anyone is accessing your finances without your permission so you can take action if needed. Credit monitoring does the work for you. Remember, checking your credit report allows you to protect your credit rating and it also allows you to monitor your creditors. There may be times when your creditor might fail to report a payment or purchase you made. You want all transactions to be posted to your history which helps your total credit score. credit report scam A free instant online credit report begins with a complete summary of your personal statistics. It contains your legal name, the list of all your recent and prior home addresses, current contact phone number, Social Security number, date of birth and your current and past employment history. The information you need for handling your finances comes next in your report. It also lists any bankruptcy, payment history including late payments and collections. And, you will see when your financial institution runs your credit report to keep their information on you current. Your financial health will depend on the credit statistics in your free instant online credit report. You can easily get educated and take control of your financial life. annual credit report scam