This week I had the great pleasure of being on ABC News’ Money Matter television program. For nearly seven minutes of LIVE television, I discussed credit reports with host Tanya Rivero. We discussed how often I check my credit reports, the different types of credit inquiries, what’s in your credit report, and how damaging late payments can be on your credit worthiness and credit score.

Click here to watch!

Being on live television was certainly a treat, a bit nerve-wracking, but I think I did alright for my first foray into live television right?

Right?

Please let me know what you think!

Most people are now aware that they can get a copy of their credit history from each of the three major credit bureaus every twelve months. We can thank the Fair Credit Reporting Act (FCRA) for that right (which you can exercise by going to annualcreditreport.com). What most people aren’t aware of is that the FCRA also gives you the same level access for other “specialty” reports as well. There are several companies that don’t create “credit” reports but do collect your data into what are commonly referred to as special reports. Fortunately, you are afforded the same rights to those reports as well!

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The Fair Credit Reporting Act (FCRA) mandates that consumers are allowed to review their credit report for free every 12 months. This rule covers all consumer reports, to include specialty reports like insurance and check writing. Until the FCRA mandate, you had to pay to see your report!

Initially there is a rollout period so that the three credit unions don’t get clobbered all at once but by now everyone can get a free credit report at AnnualCreditReport.com.

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