To check credit or not?

bky · Sep 22, 2004

I not sure if this is the right place to post this question but here goes.

I have heard but I do not know. Is it a bad idea and does it hurt to check your credit online?
Does it count against your credit score if you were to check it?
I have been told that every time your credit is checked it counts against you because there must be a reason that the credit was checked.
Reason I ask this question is because where the wife works she had one of her check stubs disappear.
I have told her to let her hr department beware to this to witch she has and to let them know its not a good idea for there ss number to be available where other ppl have access to it. So what do you all think?

Hakim · Sep 22, 2004

You are not penalized by the credit reporting agencies for checking your own credit record. They know it is you, and not a bank or credit card company or whatever.

What they look for as a "flag" is when multiple business credit checks are done, which may imply that you are trying to obtain a large amount of credit quickly.

You should regularly obtain a copy of your credit report from all three agencies, and make sure the information is accurate and complete. Sometimes even good credit experience is not reported for some reason.

I get a "consolidated" report online at least once per year. It costs about 30 bucks, which is well worth it to me, for the peace of mind. It also includes my "Fair Isaac" score, which is your credit worthiness score used by essentially every credit granting institution.

And, I always draw a fresh report a month or two before any major financial events, like applying for a mortgage.

These days good financial management demands, I think, being aware of what is on your credit report.

bky · Sep 23, 2004

</font><font color="blue" class="small">( )</font> You should regularly obtain a copy of your credit report from all three agencies, and make sure the information is accurate and complete. Sometimes even good credit experience is not reported for some reason.

What are the three agencies? and where online could i check my credit without giving the wrong person my personal info?
thank you

Hakim · Sep 23, 2004

Experian, Equifax and TransUnion.

I use this online company. They will also do it by postal mail, if you prefer. Cost for all three is around $39.00. They have a sample on their site you can look at. I have no commercial connection with this site whatsoever.

3 Reports

Bird · Sep 23, 2004

There are several places you can get credit reports. This is just one of them, and if your computer allows pop-ups, you should get one that will allow you to order from all three at once.

Or you can try Experian and Equifax and Transunion individually.

Hakim · Sep 23, 2004

Bird,

One has to be a bit careful with those services.

I believe the site you referred him to, while offering a "free" credit report, will take his info and automatically sign him up for a year of "alerts" --- they will notify him whenever someone checks his credit. He may want such a service, then again ... you just have to make sure you understand what you are agreeing to in exchange for the "free" report.

Sometimes they wildly overcharge for these kinds of services, and automatically re-bill you and make it very hard to get unsubscribed.

The site I sent him to is operated by Experian, one of the credit agencies, and I have used them for several years without any problems.

Just have to always be on the alert...

Bird · Sep 23, 2004

I agree, Hakim. Apparently we were both typing at the same time, so I didn't see your post until now, and yes, I didn't explain about the costs; just figured anyone going there would read it themselves. /forums/images/graemlins/frown.gif

dummy · Sep 24, 2004

Thanks Bird! Through the experian link, I found the following. I really like the second part about free for me! /forums/images/graemlins/grin.gif But, of course the ...freestate link doesn't appear to work /forums/images/graemlins/mad.gif

Federal Fair Credit Reporting Act
The Federal Fair Credit Reporting Act allows you to obtain a copy of your consumer credit report from any consumer credit reporting agency for a reasonable charge. The FCRA also states that individuals are entitled to receive a disclosure directly from the consumer credit reporting agency free of charge if you have been denied credit, insurance or employment in the past 60 days as a result of your report. If you have been denied credit within the past 60 days, you may visit www.experian.com/reportaccess to request your free credit report online or call 1 866 200 6020.

If you are a resident of Colorado, Maine, Maryland, Massachusetts, New Jersey, or Vermont, you may receive a free copy of your consumer credit report once each year, and if you are a resident of Georgia, twice each year. If you are a resident of the any of these states, you may also visit www.experian.com/freestate to request your free credit report online or call 1 866 200 6020.