Every year you should check out your credit report. I looked at mine recently and noticed some errors that need to be corrected and information that should be updated.

What most people don't know is that you are allowed to get one free report a year (in the U.S.). You don't have to pay the $10 or $12 bucks to Equifax, Experian, or TransUnion to get your report.

To get your free report you have to go to annualcreditreport.com. This is set up by the government to force the three credit reporting comapnies to give you one free credit report every twelve months.

Don't be fooled by other sites claiming to give you free credit reports. This site is the only one! Other sies may be free, but will charge you after a trial period is over for example.

Other information you might want to know is that under federal law, you’re entitled to a free report if a company takes adverse action against you, such as denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the consumer reporting company. You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft.

Here is a link to the Federal trade Commission giving you full information about this subject:

http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm