For everyone who requested their annual credit report as soon as it was
available last year, it is time to request it again. Under the Fair and
Accurate Credit Transactions Act (FACTA), every consumer is eligible for
a free copy of his/her credit report every 12 months.
Follow the instructions at
www.annualcreditreport.com
to request your credit report from each of the three major credit reporting agencies.
When reviewing the credit reports, look for:
• Adverse actions on your accounts that might indicate that you have
been a victim of identity theft.
• Accounts that have been opened in your name without your
knowledge. Even if the identity thief is making
the payments regularly, the account could still be in use for illegal
activities.
If you find a discrepancy, follow the specific instructions on the
website to dispute any incorrect information.
Don't forget to check the credit reports of your immediate family
members, especially minor children and dependent elders. Both of those
groups are at elevated risk of identity theft.
Remember that you are also eligible for a report every 12 months from
any of the specialty agencies which have information about you.
If you want more frequent feedback on your credit history, consider
asking for your free copy from only one of the major credit reporting
agencies at a time. Space the requests for the other two agencies out
every four months. For example, you could ask for your free copy from
Experian in March, your free copy from TransUnion in July and your free
copy from Equifax in November. Once you start, you will have to keep
the same rotating pattern. Schedule the requests on your calendar.
