Summary Your credit report is a treasure trove of data about YOU! Your credit report typically includes your Social Security number, date of birth, previous and current addresses, telephone numbers (including those that are unlisted), credit payment status, employment, and even legal information.

Ordering your free credit report at least once a year and knowing your credit reporting rights are truly among the most important things you can do to safeguard your privacy and security. The federal Fair Credit Reporting Act (FCRA) and state laws restrict who has access to this sensitive credit information and what uses can be made of it. These federal and state laws also set the standards for the operation of consumer reporting agencies, called "CRAs" or "credit bureaus."

A credit report is actually a credit history created by data about you from many different sources. Companies that have granted you credit normally make regular reports about your accounts to the three main CRAs: Equifax, Experian (formerly TRW), and TransUnion. If you are late in making payments, those to whom you owe money - including utilities, landlords, hospitals, landlords and others - can report this information to the CRA. Your bank may inform the CRA if you overdraw your account or do not make credit card, auto loan, or mortgage payments on time. Your credit report can also contain information about delinquent child support payments.

CRAs honor your right to know who has inquired about your credit or who has requested your report over the past six months. Keep in mind that the three major CRAs may not be the same. Your credit reports can contain different information because creditors and lenders might report your accounts to just one or two of the three credit bureaus who report data independently. By checking all three of your reports, you can help make sure you are maintaining a good credit profile.

Sometimes credit reports contain inaccurate data that can hurt your credit score, thus impacting your ability to get good interest rates on a loan, whether it’s for a car, home, college, or anything else you want to borrow money for. Plus, you want to make sure no one else is using your good name and credit for illegal purposes. Here’s what to look for on your credit report:
Consumer information — Includes your name, birth date, address and employer.
Consumer statement — This is a short message you have asked to be placed on your credit report; this could be a fraud alert or an explanation of late payments.
Accounts History — Information detailing real estate, installment, revolving credit or collection accounts. This is one of the most important sections of your credit report.
Public records — Your credit report may include records of bankruptcy, tax liens or judgment filings.
Inquiries — Each credit report contains a list of companies who have requested your credit history in the last two years.
Creditor Contacts — This section of your credit report contains mailing addresses and phone numbers of your creditors.

If, after looking over these areas of your credit report you think you might be a victim of identity theft (or you suspect your social security number may have been used by someone else), there are four steps you need to take immediately:

For more information about fighting back against identity theft, go to: ftc.gov/bcp/edu/microsites/idtheft/

There are recent reports that identity thieves not only target adults, but also your children. According to consumer advocates reports, criminals are stealing the Social Security numbers of kids because it’s more likely that the crimes will not be uncovered until the victims attempt to establish credit, which can be years from the time the crime is first committed. The FTC is taking steps to inform young people about credit through an education campaign, and it’s important for parents to be vigilant about their children’s identity as well as their own. Make sure to order credit reports on your kids every time you order one for yourself.

Be sure to avoid being misdirected to other websites that offer supposedly free reports, but with the ruse that you need to purchase other products. Make sure, for example, that when you type in a Web site into your browser, that you are spelling it correctly. Shrewd crooks create sites with slight variations of legitimate site names. So, one slip up, and you might be looking at an unscrupulous Web page. While you may be offered additional products or services while on the authorized Web site, you are not required to make a purchase to receive their free annual credit reports.

Remember, you have the right to obtain a copy of your credit report and the right to dispute inaccurate information. You have the right to explain negative circumstances and you have the right to "Opt-out" to prevent credit bureaus from using your information for marketing purposes. You can also complain to the appropriate government agency or, if necessary, file a lawsuit. Most important, be sure to read your credit reports carefully to make certain no one else is using your name, your credit, and your identity!

For additional information on credit reports and your right to protect yourself, check out these Web sites: