Consumers can now obtain a copy of their credit report from each of the major credit reporting agencies once a year without paying for it. But if youre not sure how to get that important piece of information, youre missing out on making sure that your financial future is still bright.

Going to the credit reporting agencies

Going to any one of the large credit reporting agencies can get you right to your credit report. That means going to TransUnion, Experian, or Equifaxs web site and asking for your report there. If you have already got your credit report for the year, you will need to pay a small fee.

When you get onto the site, they will ask you a stream of questions that will help to identify you. These might include various lenders that you might have accounts with that you will have to identify. Be sure to be within reach of your financial information in case you need specific account numbers.

After you have answered a few questions, you will be taken to your credit report with a detailed and a summary style report.

Or you can call the credit report agencies and have them send you a copy of your credit report as well.

What youre looking for

Your credit report will show you the accounts that you have in your name as well as any revolving credit accounts (cars, mortgages, etc.). It will make note of the status of these accounts as well as any late payments that may have contributed to a lower credit score.

You will also find out how many people looked into your credit report. This might be due to a recent loan application or housing application. If you arent aware of anyone needing to know about your credit, then you might want to find out who has been looking.

While it might seem that credit reporting agencies should have everything well-organized, mistakes do happen and you may need to have corrections made. This might include your name or your birth date as well as other details about the payments that you have made or the accounts that you have.

If you dont recognize an account, you will want to report that immediately to have that taken off your report as well as any other errors that might be present. Write letters to the agency as well as give any proof that you can to show that the information is inaccurate.