How to get Your Free Credit Reports Yearly
February 26, 2019
Don't be fooled by clickbait! Here's the real deal -- under federal law, you're entitled to FREE credit reports annually. These reports and the scores they generate can affect everything from the rate you pay for insurance to the types of loans you are eligible for. From spotting identity theft early to finding errors that need to be corrected, checking your reports annually is a must-do on your money management list.
Where to Start
Get your free report through AnnualCreditReport.com. You will need to enter your social security number to access your report, so be sure to use a secure internet connection (at home vs. at the airport).
More frequent reports are available for a fee through credit monitoring services. Since the fee is only justified in certain situations, ask one of our staff members for more information before signing up for these services. We are here to serve you with advice that is personalized for your needs.
3 Credit Reporting Companies
Equifax, Experian, and TransUnion are the three consumer credit reporting companies that are required to provide you with a free credit report every 12 months upon request. You will not receive these reports automatically, so make a calendar note to request reports every year.
Check Carefully
Review the details in all your reports to ensure the information is accurate. From credit limits to accounts that are paid off, you may find outdated or incorrect information. If you find an error, file a dispute.
If you think you have been the victim of identity theft, you can take action to put a fraud alert and/or credit freeze on your credit reports. Also, you should contact us immediately.
Know Your Numbers
Whether you're pleasantly surprised by your score or find that it's lower than you thought it would be, knowledge is power. Learn how debt to income ratio affects your score. If you need to raise your score, it may take some time, but you can repair your credit.
Guaranty Bank & Trust is one of the oldest and most respected banks in Texas, and we are here to help you with any planning you would like to discuss with us. To learn more, come into a location today, or give us a call at (888) 572-9881.