ASK KIM
Get Your Free Credit Report
by Kimberly Lankford

I've heard that some people will now have free access to their credit reports. How do I get mine?

Whether or not you can get a free credit report depends on where you live. The service, which was launched to comply with a recent change to the Fair Credit Reporting Act, is being gradually rolled out across the country.

The new rules require the three major credit bureaus -- Experian, Equifax and TransUnion -- to give you a free copy of your credit report once every 12 months.

People in the Western states can order their free credit reports now. The service began December 1 for residents of Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, New Mexico, Nevada, Oregon, Utah, Washington and Wyoming.

Midwesterners will be able order their free reports after March 1, 2005, people down South will have to wait until next June, and people in Eastern states and U.S. territories will have to wait until September.

For more details, or to order your free report, go to AnnualCreditReport.com.

You'll need to provide your name, address, social security number, and the credit bureau may also ask for some information that only you will know, such as the amount of your monthly mortgage payment, to verify your identity. For more information about the site's procedures and security, see the FAQ page on AnnualCreditReport.com.

This is the only site that provides free credit reports. Avoid e-mail solicitations or other ads that promise free reports, they could be scams from identity thieves to collect your personal information.

You can order free reports from all three credit agencies at the same time, or can order each one separately if you'd like to spread out your credit checks throughout the year.

You may also be able to get free reports if you live in Georgia, Maine, Maryland, Massachusetts, New Jersey, and Vermont, where state laws provide free access to credit records. You may also be eligible for a free copy of your report if you request one within 60 days of being denied credit (and for a few other reasons). Otherwise, you'll generally need to pay about $9 per report, which could be well worth the money.

Checking your credit report has always been a good idea if you plan to apply for a loan soon or want to check out your creditworthiness, but it's also important to check regularly to make sure there aren't any errors and to protect against identity theft.

For more information about credit reports -- and to find out about other credit-reporting information that you can purchase -- visit the consumer sites of Equifax, Experian and TransUnion. For information about your credit report, check out the credit education page at MyFico.com.