Everything You Ever Wanted Everything You Ever Wanted to Know About Credit, but Were Afraid to ...

23 Pages·2011·0.28 MB·English

EEvveerryytthhiinngg YYoouu EEvveerr WWaanntteedd
to Know About Credit,, but
Were Afraid to Ask
What is Credit?
CCoonnffiiddeennccee iinn aa ppuurrcchhaasseerr'ss aabbiilliittyy aanndd iinntteennttiioonn ttoo
pay, displayed by entrusting the buyer with goods or
services without immediate payment.
www.annualcreditreport.com
Types of Credit
Installment Credit (fixed amount)

Student Loans

Mortgage Loans

PPeerrssoonnaall LLooaannss

Car Loans

RRevollviing CCreddiitt ((lliimiittedd amountt))

Credit cards

UUttiilliittiieess

Some equity loans

The average consumer has 13 credit obligations on record.
www.annualcreditreport.com
Where Can I Find My Credit Report?
www.annualcreditrepport.com is

the website for your FREE credit report
www.freecreditreport.com is

NNOOTT FFRREEEE!!!!
www.annualcreditreport.com
Credit Reporting Agencies
Equifax
CHECK THESE
P.O. Box 740256
AAttllantta, GGAA 3300337744
VERY
800-685-1111
www.equifax.com
CAREFULLY!!
EExperiian
P.O. Box 2002
Allen, TX 75013
888-397-3742
www.experiian.com
TransUnion
P.O. Box 2000
CChhestter, PPAA 1199002222
800-888-4213
www.transunion.com
www.annualcreditreport.com
Checking Your Credit Report
Review all information carefully

Every detail is important – from the SSN to the individual

account numbers
RReviiew your reportts every year

You can request all three at once or at different points in

thee yyeeaar
Check your student loans to make sure they are not

counted twice
Only 36% of Americans have checked their credit report in the last 12 months.
www.annualcreditreport.com
Credit Report - Example
www.annualcreditreport.com
Errors on Your Report
www.annualcreditreport.com
To Dispute Items
Follow instructions from credit bureau

Send written dispute letters

Creditors have 30 dayys to pprovide pproof

If no reply within 30 days (plus mail time), ask to have

negative credit removed
If creditor proves cause for negative credit (even outside

of 30 days), it may be reinstated
Keep copies of everything!

www.annualcreditreport.com
Requesting a Fraud Alert
CCoonnttaacctt llaaww eennffoorrcceemmeenntt aanndd ffiillee aa ccrriimmiinnaall rreeppoorrtt

Contact any of the agencies – they will alert the

other two
Fraud Alert – 90 days

Extended Fraud Alert – 7 years

Requires criminal complaint

Can make it harder to receive credit
