Under the Fair Credit Reporting Act you are entitled to a free copy of your credit report once every 12 months from each of the nationwide consumer reporting companies – Equifax, Experian, and TransUnion. If you want to order your free annual credit report online, there is only one authorized website, www.annualcreditreport.com. The Federal Trade Commission has a link on their website ( click here to access the FTC section on free credit reports ). So why should you get your credit reports annually? To detect identity theft - Your report will show you any new accounts opened in your name as well as who has been checking your credit. If an account appears on the report that you did not open or if a company (especially a retail store where you have not applied for financing) inquires into your creditworthiness, you can take action to prevent potential identity theft from taking place or at least minimize the impact. Uncover errors - The reporting agencies make mistakes, trust me!
Money should empower, not intimidate. I believe that anyone, once taught, can successfully manage his/her own finances. In this blog I share with you money management techniques and explore timely financial topics.