What is free credit report and scores? Let us split these four words and try to understand the concept of free credit report and scores.

• Free: means something for which you do not have to pay even a single penny.

• Credit: Our Credibility, which means what is the amount of risk if an individual or an organization trusts you and lend you something or some money.

• Report: means a brief idea about the credit, whether it is good or bad. And

• Score: means a number to be precise.

Now if we get these words together into “free credit report and scores”, it means to get the information about our credibility in the form of a report or a number free of cost. After reading this, the first question that comes to mind is that are the free credit report and scores really given away for free. The answer is yes and no. It might seem confusing to you, but the only place to get free credit report and scores free is annualcreditreport.com and that to once in 12 months. All others are just a promo to attract the public to the website or a particular program, where this free credit report and scores are free with terms and conditions applied. If you check the figures or you read the articles, newspapers or surf net regularly you will come to know that on a daily basis there are 100’s of people who file a fraud claim against these type of adds.

Even after reading this I will tell you to get a copy of your free credit report and scores every quarter to keep a tab of what is been reported on your name with to the credit bureaus. If not every quarter at least 6 months, if not once a year when you can get free credit reports from all the major credit bureaus, and if you feel this is not important it is your loss.

Many people check their free credit report and scores when they apply for something. In addition, if they get rejected for the same it is again a hit on the credit score. The best practice is to make sure that everything on the credit report and scores is good before you apply for something so that you do not have to go through the disappointment, frustration and embarrassment. However, I would say it is never too late. Start working on credit report and your credit score, to get it straightened. As there is a saying, Rome was not built in a day. The same is the case with credit scores. The credit score is generally a 3 digit number, 300 to 850. Score of 600 is considered as bad and above 720 is good and above 800 is the best.

When you get your free credit report and scores, the first thing to do would be to go through all the reports check if the personal, educational, professional and banking information are reported correctly. If not dispute it and get it corrected so you can get most out of it, like lower interest rate, approved credit limits and loans, good job and a nice place to stay. This is the main reason I say that free credit report and scores are very important!

Everyone in this world has a dream, it can change from time to time, however the most important aspect of the dream is the way to fulfill it. When we are kids, our dream is to get the best toy car in the world, for which we make innocent or grumpy faces in front of our parents or our loved ones. When we are, young this dream is still there in our mind and soul but now the car, which was just a toy earlier has now come into our real life with color, dimensions, accessories, looks, etc. To fulfill this dream there are three ways: the first one is to follow the same trick when we were small, get it as a gift. The next way is the easiest way; just guess what would it be? No idea, get idea: BBS i.e. Beg, Borrow or Steal, Hey wait a minute, I am just kidding. If you ask, I will say the best way is to buy it.

Now comes, the main huddle between the two of us that is ourselves and our most loved dream, the monetary part of it. As most of the times, the vehicle, which we like, is more expensive than what we can afford. Therefore, we look for other options, like buying it in equal monthly installments i.e. also known as EMI or buying it with a credit card or an auto loan.

One of my friends had thought that as soon as she will graduate from high school she would buy her own car and she was very excited about it. She thought she would get an auto loan as her credit is in good standings. One fine day she went to apply for the auto loan in one of the bank. The banker was very helpful and explained her all the terms and condition for the auto loan. She agreed to it and then they requested for her credit report. She was shocked to know that there was a credit card on her name in a delinquent status, which would have been opened when she was very small and she was not aware of it.

The banker explained to her how she could take care of the account that was showing on her credit report. After checking, the details of the account the banker told her how to dispute credit report by following these steps to dispute the credit report and to get the account removed from the credit report so that she can qualify for the auto loan, as the banker was sure that this was an error and the account was not hers.

How to dispute credit report?

Get a free credit report from all the three major credit bureaus that are Transunion, Experian and Equifax.

Call the credit bureau and the individual or the organization who is reporting the incorrect information to the credit bureaus. Contact the Credit reporting agency and the bank by phone. Get all the information about the account reported incorrectly and ask what documents are required to get it removed and note it on a piece of paper.

Get a photocopy of all the report and encircle the account number that is reported incorrectly. Attach all possible proofs to show that the report is incorrect. Send it by fax or returned mail so you have the proof that the documents are been sent to them.

Wait for their response and accordingly take action. If you get a positive reply, you can again come and apply for the loan and get the car. On the other hand, if you do not get a reply, you can again send them another letter after 30days then 45days and if still no response, you can even sue them.

This is the best and the simplest way to dispute credit report.