How Do I Get a Free Credit Report When I Was Denied Credit?

Credit reports are communication maintained by credit bureaus for lenders indicating how you handle debt. The credit report documents how much debt you have and how well you paid them back. The fair credit reporting act (FCRA) entitles you to a free credit report for various reasons including denial of credit. Equifax, Experian and TransUnion are the three major credit report companies. Keeping close watch on your credit report and score is very important. Sometimes inaccurate information on a credit report can effect future financial decisions such as purchasing a home or car.

Instructions

1

Make yourself familiar with the Fair Credit Report Act (FCRA). This government act covers all aspects of the purpose of a credit report and rights of consumers. The FCRA covers responsibilities of credit report companies as well as individuals. Research the section that lists the specific reasons consumers are entitled to a free credit report including recently denied credit.

2

Log on to annualcreditreport.com (See Resources). Select your state and click on request report. Fill in all the pertinent info needed to obtain your free credit report. Choose one credit reporting company or all of them. Click next to continue. The website will send you to each credit report company's website and then back to the annual credit report site. Make sure you choose the free credit report option. Your credit score will not be included; however, the option to purchase one will be offered to you.

3

Review your free credit report thoroughly. Make sure all debt information is accurate including names and addresses of creditors. Verify outstanding debt balances also are accurate. If you closed some accounts make sure that information is documented as well. The company that recently denied you credit will probably be on the free credit report.