Even though credit has become such an important part of every day life, only about 25 percent of all Americans check their credit report each year. Most only find out about errors on their report when they’ve been denied a loan or turned down for a job. Residents of Illinois need to check their credit reports on a regular basis, in order to make sure that errors are corrected quickly, before problems arise.
How to Get a Credit Report
Illinois residents can obtain their credit report in several ways. They can get a free copy of their reports from each of the major credit bureaus – Experian, TransUnion and Equifax – at www.annualcreditreport.com. They can also visit each bureau’s website to get their report and score, although they will be charged a fee. At Usa Credit Report, Illinois residents can get all three credit reports at the same time. They will also get their Equifax credit score, all for free.
Understanding a Credit Report
A credit report is a summary of the credit you have used over the past seven years. The report lists all the loans and credit cards you have used during that time, as well as a payment history on those accounts. Delinquencies, collection activity and court judgements will also be listed.
Companies Checking An Illinois Credit Report
Any company that can demonstrate that they have a legitimate reason can receive a copy of your credit report. They must receive your permission before obtaining it. Under Illinois law, company’s may also request a consumer report, which includes the same information as the credit report, as well as such things as marital status, employment history and character references. Companies are not required to obtain permission prior to getting an Illinois consumer report unless they will be contacting third parties, such as friends and family members, to get information.
Given the importance of having a good credit report, Illinois residents need to check their reports regularly. Usa Credit Report can help, by monitoring all your credit reports and informing you when changes appear. This will give you the chance to act quickly to correct errors and prevent problems in the future.