While every American can receive at least three free credit reports per year from each of the major credit bureaus, consumers in some states are entitled to an extra copy.
Residents in Maine, Vermont, Massachusetts, New Jersey, Maryland, Georgia, and Colorado are all allowed receive to one extra credit report a year due to their states laws, according to WalletPop.
Still, many residents of these states dont take advantage of these services, despite the benefits that reviewing credit reports regularly can have. According to recent research, nearly two-thirds of all Americans dont review their reports even once during a calendar year.
Many financial experts say reviewing a credit report can be a vital part of achieving a good credit score. This is because the information contained therein makes up all of the factors that go into calculating the three-digit number that the credit bureaus use to determine a consumers qualifications.
In addition, a credit report contains the same financial information that lenders and other credit issuers see every time a consumer applies for a new loan, insurance policy, or credit card.
Consumers in these states may want to take advantage of these free-credit-report policies, since these policies can help them find costly errors on their reports, such as an incorrect charge or an unauthorized credit account.
Similar Posts:
- Federal Reserve Publishes New Document About Credit Notices
- Why is my FICO score different at each Credit Bureau?
- Financial Reform Bill provision to Reduce Credit Report Errors
- Checking Credit Reports After Holiday Spending Is a Good Idea
- Free Credit Reports Keep Me Informed
no comment untill now