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How to Get Free Access to Credit Reports: Know Your FICO Credit Score Before Applying for Credit

May 21, 2017 steaming ahead 0

Free access to credit reports is the first step towards raising FICO scores for all. It allows the consumer to identify areas of potential weakness, such as over-borrowing and poor credit. It also provides an opportunity to correct data entry errors prior to applying for credit.

It is important to scrutinise the information held by all credit reference agencies because the information held by each of them is completely unique. It may be that data recorded correctly at one agency is completely different to the others. Remember that ordinary people are responsible for its input.

Free Access to Credit Reports Online

Credit reference agencies are undoubtedly becoming more commercial. This is why they now offer free credit report access to attract new business. Whilst only paper credit reports were once available, this is no longer the case. Fully computerised access to a plethora of invaluable information can now be accessed.

Online access is available to the reports of all three major credit reference agencies (Experience, Equifax and TransUnion) is now available for a period of 7 days. Unlike certain trials, there are no limitations in terms of what is and isn’t accessible in the report.

Should a customer decide that they would like to continue using the service, nothing more need be done. However, those who are seeking free access to credit reports need to phone up to cancel the arrangement before the 7 day trial concludes. Failure to do so will mean that the customer is charged for a full month.

Free Access to Credit Reports for Fraud Victims

Anyone who has been a victim of fraud or identity theft is entitled to get a copy of their report by writing directly to each of the credit reference agencies. Whilst it won’t help to repair bad credit fast, it will help the customer to see if there have been any unauthorised applications.

Whilst it is possible for anyone to claim this in order to get free access to credit reports, it is not recommended. A note will be placed on the report which could serve to slow-down or event prevent future loan, mortgage and credit card applications.

By all means request free access to credit reports through the 7 day trial, don’t claim to be a fraud victim in order to save a few dollars. Whilst it won’t affect a FICO score rating, it could make it more difficult to get an automated credit decision in the future.