Real Estate Market

Free Annual Credit Report

• You are entitled to receive one free consumer credit report per year through the AnnualCreditReport website. If you do not plan the best time to review your annual credit report, you could end up having to purchase one or more additional credit reports through the three major credit bureaus, which can cost up to $39.95 depending on the number of reports you purchase.

Denied Credit

• If a financial institution denies you credit, request a copy of your consumer credit report for free through the credit bureaus that issued your consumer credit file. The financial institution that denies your credit application will send a written notice informing you of the period of time in which you have to make your request. For example, you may be required to contact the credit bureau within 60 days of receiving the denial notification.

Free Trials

• For a free credit report from one of the three major credit bureaus, sign up for one of the numerous free trial offers available online and over the phone through the credit bureaus. Cancel within the trial time to avoid subscription charges. You must provide a credit card number to participate in a free trial offer, but you are under no obligation to continue using the service after the trial offer expires.

Considerations

• When you obtain a copy of your credit report, you receive a snapshot of your credit history. If, however, that snapshot changes, which it invariably will, you must obtain a new credit report. This can be costly, which is why the three major credit bureaus offer month-to-month subscriptions. For a fee, you have unlimited access to your consumer credit report until your subscription ends.