Credit Report & Dispute

You can request your free report online, by phone or by mail. For more information about how to request your free annual credit report, call 1-877-322-8228 or visit www.annualcreditreport.com. No matter how you request your report, you have the option to request all three reports at once or to order one report at a time. By requesting the reports separately, you can monitor your credit more frequently throughout the year. This type of report does not include your credit score. See below for more information regarding credit scores.

Because the information in your credit report is used to evaluate your applications for credit, insurance, employment, and renting a home, you should be sure the information is accurate and up-to-date. In addition, monitoring your credit is one of the best ways to spot identity theft. Check your credit report at least once a year to correct errors and detect unauthorized activity.

If you see accounts you don’t recognize or information that is inaccurate, contact the credit reporting agency. Tell the credit reporting company, in writing, what information you think is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report that you dispute, state the facts and explain why you dispute the information, and request that the information be deleted or corrected. You may want to enclose a copy of your report with the items in question circled. Send your letter by certified mail, return receipt requested, so you can document what the credit reporting company received. Keep copies of your dispute letter and enclosures.

For credit report information provided by Excel Federal Credit Union, you may contact us directly.

Tell us, in writing, using the Report Dispute Form, what information you think the credit union reported incorrectly. Include copies (NOT originals) of documents that support your position. Clearly identify each item you dispute, state the facts and explain why you dispute the information. Keep copies of your dispute form and enclosures.

When negative information in your report is accurate, only the passage of time can assure its removal. A credit reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. Information about an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. There is no time limit on reporting information about criminal convictions; information reported in response to your application for a job that pays more than $75,000 a year; and information reported because you've applied for more than $150,000 worth of credit or life insurance. There is a standard method for calculating the seven-year reporting period. Generally, the period runs from the date that the event took place.

Credit scoring is a system creditors use to help determine whether to give you credit, and how much to charge you for it. Information about you and your credit experiences, like your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt, and the age of your accounts, is collected from your credit application and your credit report. Using a statistical formula, creditors compare this information to the credit performance of consumers with similar profiles. A credit scoring system awards points for each factor. A total number of points — a credit score — helps predict how creditworthy you are; that is, how likely it is that you will repay a loan and make the payments on time. Generally, consumers who are good credit risks have higher credit scores.

You can get your credit score from the three nationwide credit reporting companies, but you will have to pay a fee for it. Many other companies also offer credit scores for sale alone or as part of a package of products.

To buy a copy of your report, contact:

Equifax
1-800-685-1111
equifax.com

Experian
1-888-397-3742
experian.com

TransUnion
1-800-916-8800
transunion.com