Free Equifax Credit Report
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A free Equifax credit report from the Equifax Credit Bureau is available to consumers who want to review their financial history for different reasons. It may be obtained because of a negative rating that a company has placed on the report, resulting in a consumer being denied a loan. It may also be obtained once a year because of a Federal mandate called the Fair and Accurate Credit Transactions Act. There are three major agencies that offer financial reporting. Equifax Credit Bureau is one of these companies that operates on a national level. Each of the three agencies offers free reports to consumers so that they will know what is on their reports and understand why they received the ratings they received. Reports are available when a person has been denied a loan with a creditor or lending company. If a borrower has received a negative rating from one of the bureaus when applying for a loan with a bank, car loan company, or credit card, and a lending institution has denied him a loan, then he can request a free Equifax credit report. To receive this, he must contact the bureau directly.
Now that this federal mandate has passed, consumers can receive a report from an Equifax credit bureau once a year, even if they have had no reason to review their financial history and look over the report's accuracy and false information. With the increasing problem of identity theft, the bureaus are required to offer the free information to help combat the overwhelming difficulties that accompany identity theft. This information will allow consumers to keep track of activity on their accounts and watch for red flags that may have otherwise gone unnoticed.
The Fair and Accurate Credit Transactions Act allows consumers to receive one free Equifax report from the Equifax Credit Bureau per year. This mandate also applies to the other two major bureaus. To receive the free information, consumers should contact the central administrating system overseeing this type of request and not contact the bureaus directly. Psalm 19:7 says that God specializes in "making wise the simple." Our role as children of God is to use everything He has given us in a good way. This is why it is so important to keep track of our financial history. If we ignore our finances, then we will not serve God with them. Instead, we can be diligent about using and keeping track of our money with a free Equifax credit report.
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