Published on June 23rd, 2015 | by Millennium Magazine Staff0
Summer Break: A Good Time To Check Your Credit Report
(NAPSI)—School is out and summer is just around the corner.
Before planning that summer vacation, experts recommend reviewing your finances by getting a FREE annual copy of your credit report from Equifax,Experian or TransUnion at www.annualcreditreport.com.
“Each year, there are over 25 million free credit reports provided to consumers,” said Stuart K. Pratt, president and CEO of the Consumer Data Industry Association. “And while that’s a significant number, many consumers don’t exercise their right to review their credit report.” According to a survey by the National Foundation for Credit Counseling, only one in three consumers have reviewed their credit report in the last 12 months.
“You may have heard recent news stories about the National Consumer Assistance Plan (NCAP), an unprecedented program announced by the three national credit reporting agencies in cooperation with the NY Attorney General. The NCAP will enhance the credit reporting agencies’ ability to collect accurate consumer information and provide consumers with a better experience interacting with them. Credit report literacy is a priority for the industry. By reviewing your credit report every year, you can check up on your financial health as well as prevent future issues that might cause a credit denial later,” Pratt said.
For instance, if upon reviewing a free copy of your credit report you see information you don’t recognize, notify the credit reporting agency right away. All three of the nationwide credit reporting agencies can be accessed online, by phone or by mail. Whatever method you choose, the credit reporting agency will investigate disputed information by contacting the lender that provided the information and asking them to verify, correct or delete it. Pratt commented that a 2011 study by the Policy and Economic Research Council found that 95 percent of consumers who notified the credit bureau about an error in their credit report were satisfied with the outcome.
Go get your FREE annual copy of your credit report from Equifax, Experianor TransUnion at www.annualcreditreport.com. Make this summer a happy and credit-healthy one.