Before you go running out and purchasing your credit report from some arbitrary website you may want to look into getting your free instant credit report from the three major credit reporting agencies, TransUnion, Experian and Equifax. All three of these bureaus are bound by the law to provide all consumers with one free instant credit report each and every year. In addition, if you have ever been denied credit within the past 60 days you may also request your free instant credit report. This is all in thanks to the Fair Credit Reporting Act that states that everyone is able to and entitled to see a copy of their credit report once annually. Some people do not grasp the concept that knowing what is on their credit report is extremely important. Not knowing can be likened to trying to walk at full speed through a dark room that may or may not have hazards on your way.
Poor or even very bad credit can spring up out of nowhere and in some cases it seems like it came about over night. Many things could be the cause of this. It could be that a company you did business with put you in collections even though you finally paid off whatever the item was. If they did not remove you from collection account status then that will still be on your report. In addition, if an imposter has used your name to apply for any kind of credit and has then defaulted this could adversely affect your credit report and score as well. There is some good news here and that is by watching and monitoring your credit though a company that specializes in these services you can be notified immediately when anything at all changes on your credit report or score.