Free Equifax Credit Report and Score

The three major credit bureaus are the TransUnion, Equifax and the Experian which one is entitled to get a credit profile that is for free every year, thus, you can claim your free Equifax credit report once a year. The credit bureaus are the ones responsible in maintaining the credit profiles of various borrowers.

By the way, a credit record or profile is the journal of your behavior in terms of finances and it can be found in the office of the national bureaus. Don't worry about the credit card fraud because there are many resources available to assist you. You can get your free Equifax credit report from the government at annualcreditreport.com but stick around to learn how to get your free Equifax credit score which you cannot get from the government's site.

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Let us define what a credit profile is. The credit record or profile includes personal information about you (name, present and former address, present employment), as well as your history regarding your credits and loans, public and collection records. For each loan record and credit card you own, it will show all your payments for the past 7 years together with your credit limit.

Another term which is also significant to know is the credit score. Credit scores are the numerical assessment of your past credit record. This credit score is being used by the businesses in order to see whether you are a good borrower or not. They are calculated by the use of the complicated mathematical formulas; these formulas will base their data from your credit record. And for each year, you are entitled for three credit scores which are based to your credit record in the three bureaus. The credit score most often is from 300-850, and if you have attained a score of 700 and up, your credit score is "good". The benefit of having a good score is, you have the opportunity to have the best deals as well as having the lowest rates on your major buys. You credit score may either go up or down depending on the changes of the information in your credit record.

Your credit score will go down to 5 points if you will apply for a new loan. One thing for sure, it doesn't make any difference to your credit score if you just check it, so you can check it as often as you want to. And if upon checking, you see some discrepancies into your record, you can delete or remove that information by having to file the dispute request in the office of Equifax bureau; the bureau will then evaluate your letter for 30 days. You cannot alter the accurate information in your credit record as long as it does not meet the expiration date.

Your credit record can be legally accessed by different businesses and individuals which include the cell phone and utility companies, landlords, insurers, creditors and the like for the desire of checking your rates and your finances.

So it is important to check on your credit record regularly or at least for every 6 months, so you can see if someone is using your file and also to avoid inaccuracies.

There are three bureaus so there are also three different credit scores. Each credit score differ from each bureau since they collect data separately as well as they use different credit scoring formulas. And these formulas are used by the lenders, insurers or businesses to check if you are worthy of borrowing money from them. So, get up and get your free Equifax Credit score along with your free Experian and Transunion credit scores now!