Q: How can I get a free copy of my credit report?
A: You can get one free credit report every twelve months from each of the nationwide credit bureaus—Equifax,
Experian, and TransUnion—by
visiting www.annualcreditreport.com or
calling (877) 322-8228.
You will need to provide certain information to access your report, such as your name, address, Social Security num-
ber, and date of birth.
You can order one, two, or all three reports at the same time, or you can request these reports at various times
throughout the year. The option you choose will depend on the goal of your review. A report generated by one of
the three major credit bureaus may not contain all of the information pertaining to your credit history. Therefore, if
you want a complete view of your credit record at a particular moment, you should examine your report from each
bureau at the same time. However, if you wish to detect any errors and monitor changes in your credit prole over
time, you may wish to review a single credit report every four months.
Q: Who else is allowed to see my credit report?
A: Because credit reports contain sensitive personal information, access to them is limited. Credit bureaus can
provide credit reports only to
lenders from whom you are seeking credit;
lenders that have granted you credit;
telephone, cell phone, and utility companies that may provide services to you;
your employer or prospective employer, but only if you agree;
insurance companies that have issued or may issue an insurance policy for you;
government agencies reviewing your nancial status for government benets; and
anyone else with a legitimate business need for the information, such as a potential landlord or a bank at
which you are opening a checking account.
Credit bureaus also furnish reports if required by court orders or federal grand jury subpoenas. Upon your written
request, they will also issue your report to a third party.
Q: Does the credit bureau decide whether to grant me credit?
A: No, credit bureaus do not make credit decisions. They provide credit reports to lenders who decide whether to
grant you credit.
Q: How long does negative information, such as late payments, stay on my credit report?
A: Generally, negative credit information stays on your credit report for seven years. If you have led for personal
bankruptcy, that fact stays on your report for ten years. Information about a lawsuit or an unpaid judgment against
you can be reported for seven years or until the statute of limitations runs out, whichever is longer. Information
about criminal convictions may stay on your credit report indenitely.
Q: What can I do if I am denied credit, insurance, or employment because of something in
my credit report? What can I do if I receive less favorable credit terms than other consumers
because of something in my credit report?
A: If you are denied credit, insurance, or employment—or some other adverse action is taken against you, such as
lowering your credit limit on credit card account—because of information in your credit report, the lender, insurance
company, or employer must notify you and provide you with the name, address, and phone number of the credit bu-
reau that provided the credit report used to make the decision. You can get a free credit report from this credit bureau
if you request it within sixty days after receiving the notice. This free report is in addition to your annual free report.
In addition, lenders may use a credit report to set the terms of credit they oer you. If a lender oers you terms less
favorable (for example, a higher rate) than the terms oered to consumers with better credit histories based on the
information in your credit report, the lender may give you a notice with information about the credit bureau that
provided the credit report used to make the decision. Again, you can get a free credit report (in addition to your an-
nual free report) from this credit bureau if you request it within sixty days after receiving the notice.