Free credit report can be understood as a legal document that contains the information regarding individual’s financial dealings. It is formulated and offered by three credit bureaus totally free of cost to the people of USA. These credit reporting agencies are named as:
All these agencies independently develop the credit report on the basis of certain information acquired from the current lender of the customer. According to the law you can simply avail your free credit report just by sending a simple request to any of the agency once in the year.
Credit report of an individual is constituted of four types of information such as personally identifying information, public record information, credit information, and inquiries.
- Personally identifying information section carries name, current and previous addresses, social security number, year of birth, current and previous employers, and even marital status of the report holder,
- Public record information section is liable to contain details regarding monetary judgments, tax liens, and bankruptcies of the report holder that is contained either in a state or county court records.
- In credit information section, report holder finds the details related to credits amounts or loans with banks, credit card issuers, retailers, and other lenders.
- Inquiry section is carried the queries asked by the credit providers with whom you may have applied for the loan amount. Lenders always interested in checking this section as it helps them to know the borrower’s financial expandability.
All these section make the credit report easy to understand. You must know that credit report is subject to change on a daily basis as credit provider acquire or give new information about you to the bureaus anytime. That is why we at Free Yearly Credit Report US suggest the people to check their free credit report on regular basis and keep themselves up to date.