At ORNL Federal Credit Union, we believe that maintaining your credit score plays a vital role in managing a healthy financial lifestyle. In addition to keeping up with your credit score; it is also important to check your credit reports at least once a year.
And the best part? Checking your credit report is completely free. Federal law allows you to receive a free copy of your credit report every 12 months from each credit reporting company—Equifax, Experian, and TransUnion. You can request your free copies through the following only authorized website: annualcreditreport.com
So, what should you do if you see a mistake on your credit report? Dispute them and here’s how:
Write a Dispute Letter
Once you notice a mistake on your credit report, you will need to write a dispute letter. You will want to provide copies of the letter to the credit reporting company as well as the source of the information—i.e., a credit card company.
Provide the Facts
Your dispute should clearly explain what you think is wrong and why. State the facts, explain why you are disputing the information, and request that it be corrected. In your dispute letter, you may want to enclose a copy of the relevant portion of your credit report. Highlight the items in question. At ORNL FCU, we recommend that you include copies of documents that support your position. Make sure to never send your original documents and keep copies of your dispute letters and enclosures.
Don’t Pay for Credit Monitoring
Many companies that promise free credit reports want to sign you up for credit monitoring services or other products. However, you can completely monitor your credit yourself for free when you receive your copies of your credit reports. Because your credit score changes with time, we recommend that you spread out your credit report requests.
Put a Freeze on Identity Thieves
No need to pay a credit monitoring service to stop thieves from opening accounts with your information. Contact Equifax, Experian, and TransUnion and ask that they put a freeze on your credit reports.