Television, radio, and print media are filled with advertisements for obtaining a credit report. Some of these services are free, while others contain hidden fees. It is important that a consumer understand the details regarding each program in order to compare free credit reports in an informed manner.

The credit report and overall credit score are holy documents in the hands of lenders for auto loans, credit cards, and home mortgages. An individual’s credit score and spending habits are often the deciding factor in funding a loan. If the credit has not been used in a fiscally responsible manner, the person may spend the rest of his or her lifetime trying to repair the damage done.

Many companies will provide a consumer with a free credit report. These reports include information from TransUnion, Equifax, and Experian credit bureaus. Identity Guard, Privacy Matters, and Equifax are credit reporting services that give consumers information from all three credit bureaus. Freecreditscore.com and Smart Credit give consumers scores from only one credit bureau each. It is important that all three scores be reviewed because lenders rely on different ones.

Those who are concerned with identity theft need not subscribe to a separate service in order to have their needs met. Smart Credit and Identity Guard include identity theft protection in their credit reporting service packages. Identity theft is prevented through daily monitoring of certain online areas that attract thieves. This protection also reviews credit applications made in the consumer’s name to make sure that they are legitimate.

Correcting errors in a credit report can be very time consuming. Individuals are usually advised to contact creditors and submit a written request to each of the three credit bureaus in order to have any incorrect information fixed. Smart Credit and Equifax provide users with an interactive tool that allows them to report errors to creditors online.

One area where these companies really diverge is in terms of free trial periods and fees. While most of them offer a period when the consumer can try the services at no charge, the time varies from five days for Smart Credit to 30 days for Equifax and Identity Guard. The monthly charges after the free trial period are $14.95 for most, but Smart Credit and Privacy Matters do not clearly list their current monthly fees.

Compare free credit reports with no obligation and notify the appropriate entities of any errors. This will result in an accurate report and the highest credit score possible. That new car or home may not be a pipe dream when one manages spending and pays loans in a timely fashion.

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