I just finished checking my credit report at Equifax. Things are looking good, I think. I just got done paying off all my debts in life, literally, 4 days ago, and wanted to see how my credit history looks like before it gets updated again. I’m now debt free, though I wonder if it makes any difference.

Credit scores are now being used everywhere to qualify people, just like the IQ tests. No longer is your character the main means of understanding you; the only way to trust you is to see how you manage money. You see, anytime you forget to make a payment or simply ignore a payment, your credit history gets marked with a “delinquent account” mark by the entity that you owe the money to. Such a mark is considered bad by many, and many people get turned down in simple things [like buying a house or even renting something] if they have a delinquent mark in the not so distant past. A day may come when people will turn down their future spouses because of a bad credit score.

There are three companies in the U.S. that maintain your credit records. They’re Equifax, Experian and TransUnion. Whenever you buy a car or lease a huge TV, your credit history is checked through these companies. A credit history is your actual purchasing history. A credit score is the sum of all activity on your credit history report. Credit history gets updated every month or so, depending on when a creditor sends an update to one of the above companies, while the credit score can change at much more versatile intervals. Many different credit scoring systems are used today, the most common one being a FICO score. The higher the number in your score, the better your credit history is. These numbers range from 300 to 900. If you have a 900 credit score, you can get anything in the country on a loan, and creditors will want to kidnap you in their business contracts. If your score is around 300, you might be arrested if you get too close to a bank. The usual credit scores these days are in the middle 600’s, and anything below 600 is considered to be weak.

Each of the above 3 companies have adopted their own numbering system based on the FICO scoring, and thus the credit reports from each company will vary slightly. Recently, the government passed a law requiring the 3 companies to make available such a report for free, every 12 months. This report tells the consumers their credit history; you can request your credit score for an additional fee from any of the sites. The main site to request your free credit report is from AnnualCreditReport, or if you prefer to access the site with comfort through government channels, you can access the same site through the government FTC Credit Report website.

So far, I’ve requested my credit report twice, and have ran into more headaches than a hungry lion. Please keep the following things in mind before and while you check your credit report:

• Print your credit report.

Make sure you have a printer ready, so you can print your report. You won’t be emailed a copy. Your report will be available online from the company you requested it from for 30 days, so there is no need to panic and buy a printer just for this purpose.

• Request your credit report moderately.

You can request only one free report from each company every 12 months. Separate your requests between the 3 companies to be up to date with your credit history.

• Trust only the three main companies with your credit history.

The above website is the only official way to get your free and safe report. Other websites may offer you your reports, but that would be like giving me your personal information, and then me going through the above site and giving you your credit details, and then me telling everyone that they can access their credit report through me. It’s not a good idea to let someone else have access to your address, social security number, etc. Don’t pay someone else to help you getting your free credit report, either; it’s called a free credit report for a reason. It’s fairly easy getting one, and you will be throwing money down the drain otherwise.

• Be prepared to answer questions about your purchases.

You will be asked several questions to make sure you are who you claim to be. These questions can be tricky, such as the name the place you filled up gas last week [even if you didn't], or which bank account you recently used for a purchase. If you answer such questions incorrectly more than once, you may be locked out of the system as a security precaution. If you do get locked out, don’t cry; simply write to the company in question and they will send you your report, or visit one of the remaining two companies and request your report there. Don’t waste your chances of getting a report, though; if you get locked out of all the companies by not being able to answer the questions, you won’t have access to your report for another 12 months, and will have to go through a series of letters and faxes to get your report in the end.

• Your report is official.

If you find something bad on your report, do something about it. If you find some incorrect information, start fixing it immediately by contacting the company that issued you that specific report.

I wish you a safe credit report requesting experience, and happy results.