Free Online Credit Report

Do credit bureaus decide if I can get credit?
No. A credit bureau merely processes credit information and compiles it into your free online credit report. It has no part in the decision to grant or deny you credit.

Where do credit bureaus get the information for my free online credit report?
Your credit report contains two types of information. The first is private credit account information which shows the history of an account and comes from whoever granted you that account. The second type of information comes from public records regarding your involvement in such things as judgments, tax liens and bankruptcies.

I've been told it's a good idea to get other credit reports in addition to my free online credit report. Why?
There are three major credit bureaus, Equifax, Experian and TransUnion. Together they're responsible for about 90% of credit information transactions. But because of differences in credit reporting and errors, each may have a different version of your credit report. So it's best to get a copy from all three, so you're sure nothing is omitted or in error.

Is the copy of my free online credit report the same as what a creditor gets?
No. In the section of the report showing who has requested your report, your copy will show all the requests made. In the copy that a creditor gets, all promotional(pre-approved credit offers) and account management(a current account creditor reviewing your credit) requests aren't shown. Since these two types of report requests weren't initiated by you they're not considered relevant to your credit and therefore aren't shown.

Why is it important to know who's requested my credit report?
Under the law only businesses with a legitimate reason can get a copy of your report. So any unauthorized requests that show up in your free online credit report may be a sign of potential credit fraud.

I've heard that it's bad to have a lot of a credit report requests. Why?
Creditors view too many recent credit report requests as a sign of either that you have poor credit and were turned down or that you may be taking on too much credit. But note, that your credit report requests, as when you get your free online credit report, aren't counted

Can I get my credit report over the telephone?
Due to the confidential nature of the information, credit bureaus don't give out credit reports over the phone.