The first thing you should do before you apply for a loan or seek credit is find out what your credit report says. The creditor to whom you are applying for financing is going to check this immediately. If you know ahead of time what is in the report, there will not be any surprises during the application process.

If you find out that your credit is less than desirable or there are problems in your credit report, then you have the opportunity to fix it. There is nothing more discouraging than going through all the motions of applying for the credit you need only to be turned down at the last minute because of a credit problem, especially if it is a mistake on your report that is not of your making.

Credit Bureaus

Your credit reports come out of three bureaus – Equifax, TransUnion and Experian – so when looking into your credit history you will want to get a report from all three of them. Each one will have its own unique reporting methods and not everything will be on any one report. A copy from each of them gives you the complete picture and does not leave anything to doubt.

When Should I Check My Credit Report?

As stated earlier you should check your credit any time you are going to seek financing of any type. Also, if you applied for credit and were turned down, you have the right to request a free copy within thirty days of being rejected. You may need to include a copy of the denial letter as proof.

If you have been unemployed and are seeking work you have the right to a free copy as well. Some employers run credit checks before hiring. Also, if you believe there is a mistake on your credit report you can request a copy.

New Laws

You can pay to receive a copy of your credit report any time, but new laws passed state that everyone is entitled to a free credit report once a year without having a reason. Each state has a different time frame when the reports are available.

Applying for Your Report

When you request your report you will need to include the following:

• Your full name
• Birth date
• Current address and past addresses
• Social security number
• Spouse’s name
• Phone number