Credit Reports

What is a Credit Report?
Why should I view my credit report?
How can I get my credit report?
How can I obtain a copy of my credit report on my own?
Is a credit report free under special circumstances?

What is a Credit Report?

A credit report contains information regarding your financial history, including payment history (late payments, write-offs), the amount of credit you have available, and the amount of debt you currently have. If you have a foreclosure or bankruptcy, a notation will stay on your credit report for 7-10 years. Your credit report is an important indicator of who you are to many people and institutions, including banks, lenders, employers, auto insurance companies, and landlords. Any of these people can view your credit report (with your approval of course) and may judge you and your credit-worthiness/job performance ability/housing eligibility from statements contained in this report. There are three major credit bureaus to which credit information is reported: Experian, Equifax, and TransUnion.

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Why should I view my credit report?

Identity theft is one of the fastest growing crimes in the US. One of the only ways to ensure that you are the only person using your information is to check your credit reports on a regular basis. Additionally, consumers should review their credit reports to make sure the information contained in each is both accurate and up to date. Since some information is not always reported to all three bureaus, each report may be different. There is a 70% average error rate on credit reports. Due to these facts, DWD recommends that the average person pull and review their credit report from all three bureaus at least once per year. However, those who have been victims of credit fraud should review their credit report at least every 6 months.

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How can I get my credit report?

You can obtain your credit report in a couple of ways.

• The easiest and fastest way is to call DWD and schedule a credit report counseling session. We can immediately pull all three reports for you for $39.95 per individual. The free counseling session is to help you understand your credit report and how it may affect you in the future.

• You may also obtain copies of your credit report directly from the 3 major credit bureaus.

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To obtain a copy of your credit report on your own, write or call:

When writing to a credit bureau, be sure to include the following required information with your request:

• Full name including middle initial and generation (Jr., Sr., II, etc.)
• Current Address with zip codes for the past 5 years
• Social Security Number
• Date of birth, including year
• If married, your spouse's first name
• Verification of your current address, such as a photocopy of your driver's license or utility bill
• Sign your request
• Allow 2-3 weeks to receive your report

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Is a credit report free under special circumstances?

All three credit bureaus will provide a free credit report on an annual basis. Also, you may obtain a free credit report if you are a victim of credit fraud, or have been denied credit/employment/insurance (because of the information contained in the report) within the past 60 days. TransUnion and Equifax will provide a free copy of your credit report if you are receiving welfare assistance, or are unemployed and seeking employment within 60 days.

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