If you’re not already aware, annualcreditreport.com is a government approved website that allows you to get free access to all three of your credit reports (one from each of the three credit bureaus: TransUnion, Equifax & Experian). The credit bureaus were required to give free access to these reports as part reforms to the fair credit reporting act (FACTA was the specific amendment).
Whilst the credit bureaus were forced to give free access to individuals credit reports once per year, they did win one important concession. Normally when you dispute incorrect information on a credit report, the offending bureau has a period of 30 days to respond. If the incorrect information was found on a credit report obtained through annualcreditreport.com they have a period of 45 days to respond.
[Read: Find Out How To Get A Free FICO Score]
We still suggest using annualcreditreport.com to check your report for inaccuracies, just be aware that they have more time to respond to your disputes. If you’re in a hurry (e.g, you want to purchase a house) then it might be best to purchase the reports directly from each of the bureaus.
[Read: Our Guide To Getting Your Credit Reports For Free From AnnualCreditReport.com]
Just got my Equifax report. They have my home equity line listed not as a mortgage but as a revolving account, which inflates my debt-to-credit ratio in that category. Should I care, since the overall DCR is the same either way?
Home equity lines are considered revolving loads
The only time my “load” revolves is when I flush.