More For Your Money - University of Illinois Extension

http://MoreForYourMoney.extension.uiuc.edu

Why Look at Your Credit Report

Credit bureaus try to give accurate information, but they can make mistakes.  The errors can cause people to be denied credit.  That’s why it’s important to get a copy of your credit report once a year.  Since it contains information about you, you want to make sure your information is accurate.  

If you want to make a big purchase like buying a car or house, get a copy at least six months before the purchase.  Make sure there are no mistakes that may keep you from getting a loan.

If you’re having trouble getting credit, you’ll also want to get a copy of your credit report and make sure it’s accurate.  If you’ve been turned down for credit, you should receive a letter with the name of the credit bureau that issued the report. 

Reports may be ordered by mail, touch-tone phone or the web.  Each extra report will cost about $10. 

If you have been denied credit, a job, insurance or rental housing, your credit report is free. You do have to show proof of being denied credit (by sending a letter) within 60 days.