Credit plays an important role in everyones life. It affects the purchases you make and much more. One of the ways you can educate yourself and improve your credit is by getting an understanding of your credit history. As of December 1, 2005, all consumers are eligible to request their statutory annual credit file disclosure once every twelve months. This means that every consumer is entitled to get a free credit report and score at least once a year.

There are three nationwide reporting agencies that encourage consumers to review their credit reports. They are Equifax, Experian, and TransUnion. The best way to get a free copy of your credit report is though AnnualCreditReport.com. The AnnualCreditReport.com is a centralized service that has been created by these top three credit reporting companies. It is the only service that has been authorized by Equifax, Experian, and TransUnion for this purpose. The AnnualCreditReport.com offers consumers a fast and convenient way to request, view, and print their credit reports. All you need to do is go online and fill out the application in the comfort of your home and in a secure internet environment.

With identity theft on the rise you can easily fall prey to credit card fraud and identity assumption, sometimes without even being aware that you have become a victim. I cannot stress enough how important it is to look at your credit report at least once a year. As I mentioned before, you might not be aware that your personal information has fallen in the hands of a thief. It could take several months for you to become fully aware and by that time the damage has been done. It could take anywhere from months to several years to recover from identity theft. But if you are frequently checking your credit report, any suspicious activity you will notice immediately and take action. It is also good to see what kind of information a lender sees regarding your credit history.

On a personal note just as a testimony, we learned in the process of refinancing our mortgage that my stepson has created some bad debts that showed up my husbands credit report. My stepson is a junior with the same name as my husband. We were very surprised and had no idea that this was occurring. These bad debts affected my husbands credit scores and now we have to go through the process of getting all of these removed from the credit report. We would have not known this was happening unless we had viewed the credit report. So please take advantage of this free service through AnnualCreditReport.com. I also suggest you take some time and visit the websites for Equifax, Experian, and TransUnion. There is a lot of valuable information on identity theft, credit card fraud, and ways to protect yourself.