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In Ohio, the “Fair and Accurate Credit Transactions Act of 2003” took effect on March 1, 2005, giving all consumers the right to obtain a free copy of their credit report from each of the three major credit-report agencies (Equifax, Experian, and TransUnion) annually.
While this benefit has been available for several years now, many Ohioans still do not utilize it. If you have not already done so, you may log-on to www.annualcreditreport.com to request your free report or send in the written application on the reverse side of this Tip. This application may be used to make requests to all three major reporting agencies.
 Each agency puts together its report differently, so it is a good idea to check all three and stagger them throughout the year. Errors on your credit report are expensive because they can translate into higher interest charges when borrowing money. Report any inaccuracies immediately to the credit reporting agency that made the error. Here is the contact information:
This law entitles consumers only to a free credit report, not a free credit score. Your credit score translates all the information in your credit report into one number, which may be used by lenders to fix the rates offered to you when you try to borrow money for a home mortgage or a car loan, or even when you apply for an insurance policy. Many employers now also use your credit score as an indicator of whether or not you can handle responsibility when you apply for a job. Your credit score may be obtained from these same agencies for a fee ranging from $4 to $6.95 per agency. Note that your credit score is based on the information in your credit report. Therefore, if you want to have your credit score changed, you need to review carefully the information contained in your credit report.
For more information, please see our website www.ohiotreasurer.gov or call us at1-800-228-1102. |
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