Course 2

The $1 Report That Could Change Your Financial Life

Most people have never read their own credit report. That one habit — or lack of it — could be costing them thousands of dollars every single year.

Your credit report is a detailed record of your financial history. It's the document that lenders, landlords, employers and insurers use to evaluate you. Yet most people have never read theirs — and many are shocked by what they find.

Your credit report includes: personal information (name, address, Social Security number), account history (every credit card, loan and mortgage), public records (bankruptcies, judgments), and inquiries (every time someone checked your credit).

There are three major credit bureaus — Equifax, Experian and TransUnion — and each one may have slightly different information. Lenders don't always report to all three, which means discrepancies between bureaus are very common.

Here's the step-by-step process for reading your report: First, pull your reports from all three bureaus. Look at each account listed — verify that every account belongs to you and that all information is accurate. Check for any accounts marked as late, in collections or charged off. Review the inquiries section for any applications you don't recognize.

Studies show that 1 in 5 credit reports contains errors — and some of those errors are significant enough to lower your score. The good news? Under the Fair Credit Reporting Act (FCRA), you have the legal right to dispute inaccurate information.

You don't need to understand every line of your credit report — but you do need to know what to look for. This is exactly what our team helps you do in your first consultation.

Start here: Run your credit report today for just $1 at creditotexas.com.