Under the Fair and Accurate Credit Transactions Act (FACT Act) consumers can request and obtain a free credit report once every 12 months from each of the three nationwide consumer credit reporting companies. www.AnnualCreditReport.com provides consumers with the secure means to do so. This is the only sight that is both free and secure. If you go directly to one of the providers, you will have to pay for your report.

It is entirely your choice whether you order all three credit file disclosures at the same time or order one now and others later. The advantage of ordering all three at the same time is that you can compare them. (However, you will not be eligible for another free credit file disclosure from the Central Source for 12 months.) On the other hand, the advantage of ordering one now and others later (for example, one credit file disclosure every four months) is that you can keep track of any changes or new information that may appear on your credit file disclosure. Remember, you are entitled to receive one free credit file disclosure through the Central Source every 12 months from each of the nationwide consumer credit reporting companies – Equifax, Experian and TransUnion – so if you order from only one company today you can still order from the other two companies at a later date.

Some of the credit reporting agencies run television ads claiming you can get a free copy of your credit report from them. While they can substantiate this claim in court, the ‘free offer’ comes with strings—strings attached to your wallet. Most are free only when you subscribe to one of their for-fee services. The most common service is some sort of identity-theft protection, where the company notifies you of any unusual activity on your account. Please note that these offers change frequently, mostly in response to consumer demand. Examine any plan carefully before entering or rejection any such protection.

You should also be aware of an Illinois law, in effect since January 2007, allowing you to lock access to your credit report without your written authorization. This tactic is certainly more pro-active than the typical fee-based services the credit agencies provide.