Massachusetts Free Credit Report

A Credit Article Contributed by Brandie King

Importance of Getting Your Free Massachusetts Credit Report

The importance of getting your free credit report in Massachusetts is no different from the importance of getting it elsewhere. Many things are based upon your credit score and what is contained in your credit report. When you go to apply for a credit card, loan, auto financing, home mortgage, auto insurance, and more, the companies that you are applying to will check your credit report.

If you have good credit, then you are more likely to not only get the loan, insurance, or card, but are very likely to pay a lower interest rate. When you have bad credit, though, it is an entirely different matter. Having bad credit will cause you to either get rejected or to pay extremely high interest rates. If you are currently unemployed or are looking to change jobs, knowing what your credit score is and what your credit report contains is also important.

Many employers have begun to check a prospective employee's credit report to give them an idea of that prospective employee's reliability. Having bad credit could cost you that job that you really want.

Free Massachusetts Credit Report: Requirements for Getting Free Credit Report in Massachusetts

You can get a free copy of your credit report if you have been turned down for credit in the past 60 days, if you are on welfare, if you are currently not working but are actively seeking employment, or if you have suffered from credit fraud. Starting in December 2004 there will be another option for getting your free credit report. A new law will go into effect then that will allow anybody and everybody to get one free copy of their credit report each year.

Although not all states will be included initially, by September 2004 all will be included. If you live in Massachusetts, you will be able to get your yearly free credit report starting September 1, 2005.

Free Massachusetts Credit Report: Where to Obtain Your Free Credit Report

Currently, you can get a free copy of your credit report from the three major credit bureaus if you meet at least one of the requirements listed above. After the new law goes into effect and your state has been included, you will be able to get access to your yearly free credit report through a central clearinghouse. Although instructions for doing this have not yet been released, there is some helpful information that has.

Once your state is included, you will be able to get a yearly free credit report for all three of the major credit bureaus from this central clearinghouse. The three major credit bureaus are Experian, Equifax, and Trans Union. Since creditors do not have to report to all three and you therefore have three separate and unique credit reports, this new law will save a lot of time and money for consumers.

Equifax, http://www.equifax.com

Experian, http://www.experian.com

Trans Union, http://www.transunion.com