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What Does Your Credit Report Say?

Do you know? You should!Credit Report Ann Arbor Mortgage Info

What’s on your credit report is more important than ever. It is reviewed when you apply for a loan to purchase a home or condo, submit an application to rent an apartment or home, or apply for credit or insurance. A prospective employer may even look at it when you apply for a job!

Did you know that by law, you are entitled to receive a FREE copy of your credit report once a year? And, from all 3 credit bureaus: TransUnion, Experian, and Equifax. There are many companies out there that offer to get your credit report for you and some of them will, but others may try to charge you fees or make you buy unneeded services. For example, the other day I received a letter in the mail from American Express. This is what it said:

Free Credit Report – Your signature below is required to try ID Protect Premium from American Express FREE for the first thirty days so you can get delivery of information regarding your protection benefits which will include the following:

1…Your Free Triple Bureau Credit Report
2…Daily Monitoring Notifications
3…Internet Fraud Monitoring

Yes, they are offering me my free credit report from all 3 bureaus, but in order to get them I have to sign up for #2 & #3, which I don’t want, for the low, low price of $15.99/month. There is a way to bypass all of these extra features and get a truly free credit report. The Federal Trade Commission has a Free Credit Report page on their website where you can apply for it at no cost whatsoever.  In fact, the Fair Credit Reporting Act requires that this notice be placed on any source that offers a free credit report:

You have the right to a free credit report from or 877-322-8228, the ONLY authorized source under federal law.

The FTC even recommends requesting reports separately from each other, that way you can monitor your credit throughout the year. So if you’ve been thinking about buying a new Ann Arbor home, renting a condo, or leasing a vehicle, be prepared and know what’s on your credit report. To find out more about the home buying or selling process, contact the Ann Arbor real estate experts at The Bouma Group at 734-761-3060 or And remember, we’re never too busy for your referrals!




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