Whether you are receiving a refund or owe the IRS money this year, now is a great time to request a copy of your free credit report, according to The FINRA Foundation. Consumers can get a copy of their free credit report by calling (877) 322-8228 or visiting www.AnnualCreditReport.com. Under the Fair Credit Reporting Act (FCRA) Equifax, Experian and TransUnion are required to provide you with a free copy of your credit report once every 12 months.
Check to be sure your credit history is accurate and correct any discrepancies immediately. You can also request your score from the site. There will likely be a fee to obtain your score—but it’s an important number to know, since it’s what lenders use to help them decide not only whether you get a mortgage, a credit card or some other line of credit, but also the interest rate you are charged for this credit. The FINRA Foundation has an online resource to help you understand how your credit score impacts your financial future.