Anyone who has been in the position of applying for credit will attest to the fact that it can be a stressful experience. There are three major credit bureaus – Experian, Equifax, and TransUnion – that compile the information on consumers that will ultimately determine if they are eligible to receive a particular loan. The information included on a credit report may include a record of late payments, an experience with a past loan default, and significant credit lines currently being carried. Through all of the information regarding a consumer’s experience with credit, the credit bureaus are able to assign the consumer a credit score – the number that will tell potential lenders – at a glance – about the consumer’s creditworthiness and subsequently their eligibility to receive a loan for which they may be qualifying.

In order for a consumer to be most in control of their financial health, it is essential for them to be on top of what is being said about them on their credit report. To this end, consumers are given the right to receive one free credit report within every twelve month period – through an online portal that allows consumers to access all three of the credit bureaus in one place. Through this service consumers are able to request a free credit report from any or all credit bureaus once a year. A credit report may be requested more than once, but the consumer will be charged a fee. Even if they do not check their credit report monthly, however, just making it a part of their yearly “housecleaning” to request their free credit report will be enormously helpful in keeping the consumer up to date about what is happening on their credit report.

Free credit reports from all three credit bureaus can help alert consumers to inaccuracies currently being displayed on their credit report and help keep them educated on their financial profile.

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