Most American consumers would be shocked to know that they are legally entitled to receive their credit report at no cost from each of the main credit reporting agencies. Formerly, Equifax, TransUnion, and Experian would charge up to $9.50 for each credit report. There are many third party reporting agencies that also offer credit report services, and their charges vary. By law, the three main credit reporting agencies are required to provide upon request one copy of your credit report every twelve months, at absolutely no cost to the consumer.

Consumers have to manually request their credit report in one of three ways.

1. The one and only authorized location online to request your credit report for free is from AnnualCreditReport.com.
2. Consumers can print out the “Annual Credit Report Request brochure” (available from the Federal Trade Commission) and complete the form on the back. Completed forms should be sent to P.O. Box 105281, Atlanta, GA 30348-5281.
3. Consumers can call 1-877-8228 for more information
It’s important to note that you will not get a FICO score, which is trademarked by the Fair Isaac corporation. However, your FICO score is dependent on many items contained in your credit report. Your credit report is basically a run down of your credit accounts, payment history, balances, and payment history. You should try to maintain as accurate a credit report as possible, since it directly impacts your credit score.

When requesting a free credit report, be sure to only go to AnnualCreditReport.com or the other two sources mentioned above. If you go directly to the credit reporting agency, they will most likely charge you a fee unless you meet a very specific set of requirements. However, there are several existing rules that allow consumers to receive a credit report for free:

1. Consumers are entitled to a free credit report when they are denied a loan, job, or insurance policy based on the information contained in their credit report
2. You are currently receiving public assistance or are unemployed
3. Several states already offer free credit reports: Colorado, Georgia, Maine, Mass., Maryland, New Jersey, Vermont

Be sure to spell AnnualCreditReport.com very carefully. A simple typo can send the viewer to shady third party sites that offer “free credit reports” which are nothing more than scams. Only from AnnualCreditReport.com can you get your 100% free credit report as required by law. Bottom line – while you can pay for credit reports, know that you are entitled to at one free report every year. Why pay money for your credit report if you don’t have to?