An Absolutely Free Credit Report Will Soon Be Available

Now, everyone will be able to receive an absolutely free credit report from the three credit reporting bureaus. Due to the signing of the Fair and Accurate Credit Reporting Act, you are now able to get a copy of your credit report once a year absolutely free! The act will be phased in until December 2005, when everyone in the country can request an absolutely free credit report.

Absolutely free credit reports are now available to most Western states including Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Utah and Washington. Also, the roll out on the absolutely free credit reports has included most of the Eastern states as well. Transunion, Experian, and Equifax are now required to provide consumers free copy of their credit reports within 15 days upon their request. FTC is required to establish a central source for the absolutely free credit reports and develop a standard request form so that consumers can order all three credit reports at once and absolutely free.

The need for an absolutely free credit report is now a must with the growth in identity theft. In 2003, almost 10 million people were the victims of identity theft, which can ruin your credit. A free credit report can help those without the financial resources to afford to purchase a credit report. Everyone needs to review their credit report at least once a year to see if there are errors and inaccurate statements. Currently, you are entitled to an absolutely free credit report if you think you may be a victim of identity theft. Also, a free credit report can be obtained if you have been denied credit in the past 60 days, if you receive welfare benefits, or are unemployed at the present time.