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|
 
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| It is very important to make sure you know
your rights and privileges. |
| 1. |
Federal laws may protect you against unfair
credit discrimination. |
| 2. |
The card issuer must completely and accurately
disclose all card account fees and charges. |
| 3. |
Under certain circumstances, you may have recourse
if a service or product you purchase with a credit card does not
meet your satisfaction. |
| 4. |
You are guaranteed access to information in
your credit history. |
| 5. |
You can remove your name from mailing lists
for pre-approved credit card offers. |
| 6. |
You may have certain protections in case of
a billing dispute with card issuers and other creditors, while the
dispute is investigated and resolved. |
| 7. |
You have the right to know if a prospective
employer plans to use your credit report as part of the screening
process. |
How to get your credit report
To receive a copy of your credit report, simply link through to one
of the three national credit bureaus. Your credit report may vary from
one bureau to another, so you may want to check all three. Fees may
apply.
How to check the accuracy of your credit reports
The big three national credit bureaus enter billions of pieces of data
into credit records each month, so it is possible that errors could
find their way into your report. To prevent this:
• Don't wait until you are denied credit to review your credit
report. You have the right under Federal law to request a copy of your
credit report, at any time, for a fee.
• Check your credit at the beginning of every year; six months
before buying a new car or home, or other major purchase; six months
before seeking a job that requires a security clearance or background
check.
What to do once you receive your credit report
Review your credit reports and make sure the information is up-to-date
and error-free. If you find any incomplete or inaccurate information,
follow these steps to get the problem corrected:
• Inform the credit bureau of the problem in writing within 60
days of receiving your report. Some credit bureaus may allow you to
submit your dispute online.
• After reviewing your complaint, the bureau is legally obligated
to investigate and correct the error, and to provide retailers and other
providers of credit information with complete, corrected information.
• If the bureau fails to correct an error to your satisfaction,
you may send the bureau a written statement of no more than 100 words
explaining your situation. This statement must be reflected in any future
reports that contain the disputed data.
• You can also contact the consumer protection
division of your state attorney's general office, your local consumer
protection agency or the Federal
Trade Commission or for more information consult the source: The
Fair Credit Reporting Act
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