Credit reports (actually, the credit monitoring services that you are automatically signed up for when requesting a report) are big business.

Many people are scared into thinking that they need to sign up for credit monitoring and notification, and presto – a nice, recurring monthly income stream for Trans Union, Experian, and Equifax.

So, be an informed consumer and request your (truly) free credit report once every 12 months from AnnualCreditReport.com.  It was created by the three main credit reporting agencies, and will give you tons of important information.

Again, this IS NOT THE SAME as many other websites out there that promise a free credit report, but try to get you to sign up for credit-monitoring services that wind up costing you money for a monthly “monitoring subscription”.

Please note that this site does not give you a credit score, but it does give you all of the details about your credit.  Do it now while it is fresh in your mind.

Here is the site:
https://www.annualcreditreport.com

Directions:
1.  As of early 2010 when this post was written, there was a picture/box in the top left of the screen with “START HERE” in big red letters.  Simply choose your state from the list, and click on “Request Report”.

2.  Fill out the information in the screen that comes up next, and follow along with the process.

3. INSIDER TIP – request your first no-charge report from Transunion, as they give you the most information of the three credit bureaus.

Regardless of whether you want to chat further with us about your debt relief options, I HIGHLY recommend that you get a copy of your credit report so you can arm yourself with accurate information so people can’t play on your fear and take advantage of you.

By the way, we’ve looked at thousands of credit reports (literally) in all of our years in the finance and debt industries, so if you have any questions, post them below, or give us a call or email!

Thanks,

Greg

This is a common question, and comes up all the time because in the past, it was true.  However, that changed a while back, and this change was mostly “under the radar.”

After all, if it was publicized, people would be more likely to enter into credit counseling/debt management programs…and the banks wouldn’t keep collecting 20% – 30% interest!  Hmmm…

But rather than taking my word for it, I found a link that I wanted to share with you that comes directly from myfico.com.  (FICO aka Fair, Isaac, & Company is the company that invented the FICO score and is the company that 90% of the largest U.S. banks use to calculate your credit score, so this is straight from the horse’s mouth).

This article clearly shows what sort of information is NOT included included in your credit score.  Click here to read this important credit info.

Items that make up your credit score

Take a look at the last bullet which states:

“Whether or not you are participating in a credit counseling program of any kind.”

Oh, and here’s another article from MSN that talks about the myths of credit scoring.

By paying your bills through our non-profit debt management company, you will repay your credit card debt 100%, more than likely at a much lower average interest rate, with hardly any impact to your credit.  Get in touch with us today and we’ll tell you everything you wanted to know about credit scoring and how the various debt relief options out there impact your score.

Talk back…what are some of the other credit score myths you’ve heard?

All the best,

Greg