Yes, you have the right to know the content of credit files that contain information on you, and many consumer credit experts suggest that you examine these credit files about once a year. A periodic checkup will enable you to find out what the credit bureaus will report to those businesses with a legitimate reason to check your credit record. Whenever you ask to learn the contents of your file, you should be sure to provide adequate identification to the credit bureau so you will receive your report and not that of someone with a similar name. The FCRA allows you to review your file at any time, and it is particularly important for you to do so if you plan to apply to rent an apartment or apply for a job or a home mortgage loan or other major loan or credit purchase. The credit bureau is permitted to charge you a reasonable fee for providing this service unless your inquiry is after adverse credit action is taken against you.
Some members offer consumers one free report each year upon request.
As noted earlier, a creditor may turn you down or take other adverse credit action because of a report from a credit bureau. If so, the law requires that the credit grantor give you the bureau's name and address. You are allowed to request information about the data from the credit bureau by phone, mail, or in person. If a credit grantor has denied you credit within the past thirty days because of data supplied by a credit bureau, the bureau may not charge you for the information. As a matter of practice ACB members will provide a free report within sixty days from the date your credit application was declined.