Experian Free Credit Report – Understanding Credit Report

Experian Free Credit Report

The credit report is a detailed record of all your debt and credit account. Information such as: how much debt you have, how you pay your debt bills and credit always and on time. Including your personal identification information and how long you have been using and managing your credit accounts are all contained in a credit report. It is also known as credit history or credit file.

The three credit reporting bureaus: TransUnion, Equifax, and Experian are responsible for maintaining your credit report. So, you must have a report at each bureau, but not all lender reports details to each bureau.

How To Get A Free Credit Report?

Getting your credit report and your FICO score is very easy, as you can get it from many sources like the Experian.

At AnnualCreditReport. com, you can also get a copy of your credit report from each of the three bureaus every year.

Experian Free Credit Report
Experian Free Credit Report

Experian Free Credit Report – How Often Is My Credit Report Updated?

Your credit report does not require any set date for updating details. But, a credit bureau can receive update from one lender on the fourth of every month and from another on the 19th of every month. So, your credit reports could vary on a day-to-day basis, depending on the time your creditors send a detail of your loan and payment history to the bureau.

When there is a Problem or Mistake on My Credit Report?

It is important to always check your credit report from each of three bureaus annually. To be sure that the credit account listed in your report are well represented and your personal identification information correct.

Negative information in your credit report could lower your credit score. So you are to check your reports on time to correct any errors. Especially if you want to apply for a new loan or credit card because your credit score must be good before you apply for any card or loan.

According to the Federal Reporting Act, the credit reporting bureau and information provider ( such as the lender who gives information about you to the bureau)  can make any corrections on your reports. So you are to initiate a dispute in writing to the credit reporting agency. And the credit reporting agency will investigate your dispute within 30 days of submission.

With Experian you can initiate a dispute through phone, mail or possible do so online using their Dispute Center.

Protecting Your Identity

When you have an account listed on your credit report which does not belong to you or disturbed about identity theft, you can file a free fraud alert on your credit file which reminds for a year through the Experian fraud center. You are to file it with one credit bureau because the bureau will share such alerts with each other. This fraud alert informs lender pulling your credit report to take extra steps to verify your identity.

Freezing your credit report is another way to prevent lenders from issuing new credit in your name. You can also use the Experience CreditLock, as this allows you to lock and unlock your report in real time, without waiting for the period advantage of Experience membership.

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