In the USA, you can have your free credit report by applying to one of the three agencies that are authorized to distribute free credit reports nationwide. Equifax, Experian and TransUnion are the three credit reporting agencies authorized by the federal law in this regard. All these three agencies record your credit history by taking the details from the sources that are keeping tabs on your credits.
All other business entities buy your credit reports from these three agencies when they want to evaluate your credit upon your submission of an application to them asking credit or any other related matter which compel them to look into your credit balances to pass your application. The entities more often than not who buy others' credit reports are landlords, insurance companies, employers, lenders and financial institutions. Only if you have a sound credit balance, that they would approve your application for the relevant matter.
Federal law allows citizens to have a free credit report annually from the three authorized companies. Nevertheless, as your credit card report is updated regularly by these three agencies with details given by your credit extended companies, you have to verify your credit report on a regular basis to check whether there are any errors.
Your free credit report includes your personal information. Personal information consists of your name, address, social security number and date of birth as well as your employers' current and previous addresses. Credit report is mainly recorded details of accounts that are against your name or taken by you as the sole user of the accounts. The accounts given to you by creditors are also updated to your credit report. The limitation of credit for these accounts, the loan given, repayment regulations, how much has to be paid, and the way you have paid the loan are also included in your credit report. Past accounts within seven to eleven years and the reasons they have been closed are also recorded.
The other factors that appear in your credit report are inquiries on your credit, records of the credit reporting on these requests including to whom it was supplied to is also included on your credit report up to two years. Other than those types of information there are public records such as court records; bankruptcies, child support overdue, etc., within the past seven years on your credit reports.
All these records are reflected on your future to a great extent, and a free credit report can help you to have control of your credit development on a regular basis. You can inform the relevant authorities of any irrelevancies in them to put your records straight. The three agencies aforementioned provide you with free credit reports. You can look them up online and you can be in contact with them by emailing or by contacting over the phone.