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Question: I am applying for a loan and would like to know
what my credit report says about me. Is there anyway to get
a credit report fast?
Answer: You can get a copy of your credit report by going
on-line. Each credit bureau handles this a little
differently, however.
Experian allows you access to your credit report on-line
and does not charge you. The process is simple:
Go to www.experian.com. When you get to the home page, you
follow basic instructions that will guide you through the
steps. Experian warns that you can only access the report
once a year without paying a fee, and suggests that you
print it, review it entirely or save it to a file. The
Experian report summarizes your information into potentially
negative items, accounts in good standing, requests for your
credit history and personal information.
The report summarizes accounts in good standing using
comments such as “open/never late.” It also gives names of
companies and their addresses. This is important if you have
accounts that you never use and want to close.
The second credit bureau that will allow you to get your
credit report online is Equifax. Their policy is that you
can order your credit report online but if you want a free
copy, you'll have to wait and get it by mail. If you want it
right away, you will be charged $8.50.
Equifax (www.equifax.com) takes you through the steps of
becoming a member. There is no charge but you must create
and remember your user ID. After you register as a member,
you will receive an email with an eight-digit password which
allows you to log on with your user ID and your assigned
password number. Then you get to see your credit profile.
Interestingly enough, this credit report did not show the
car loan where I am a cosigner (Experian did show this
information). Equifax showed an incorrect credit card
balance on a credit card, and again, the Experian report was
correct.
The third credit bureau is Trans Union. They
(www.transunion.com) will let you order your report by mail,
telephone and online. They will only send your report to you
by mail, however.
I recommend that you take advantage of getting your free
report each year from each credit bureau. If you know what
is being reported about you, you can correct any error.
For more information, contact your local
Colorado State University Extension office.
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