Have you checked your credit report lately?

If you haven't checked your credit report lately -- or ever -- it's time. Your credit report gives an overall snapshot of your financial situation that banks, landlords and other businesses use to evaluate how risky you are as a customer.

Your Financial History

Your credit report shows a history of any loans you have received, credit cards you owe, liens, judgments, child support payments and other financial information. It also shows where you have lived, whether you pay bills on time and if you have filed for bankruptcy within the past 10 years.

Checking your financial profile on a regular basis allows you to be informed about how creditors, mortgage companies and other financial institutions you do business with may view you. Some employers may even look at a credit report as part of the job application process.

Get Your Free Copy

You are entitled to one free copy of your report from each of the three major credit reporting agencies each year under federal guidelines. The big three credit bureaus are Experian, Equifax, and TransUnion.

Request a report from all three agencies because the information contained in the reports may not be exactly the same. You can get all three reports at once, or stagger the requests throughout the year.

To get a free report call 1-877-322-8228 or fill out the form at Annualcreditreport.com, the only site authorized by the federal government to provide free credit reports. You will need to provide your birthday and social security number. You also may have to verify previous addresses.

Go Straight to the Source

Other sites claiming to offer free reports usually require you to pay for credit monitoring or other services with their offers, or may be trying to collect your personal information.

In fact, federal regulators have recently cracked down on sites that offer so-called free reports, and require them to add a disclosure that Annualcreditreport.com is the only place authorized by the government to provide free reports.

Were You Denied Credit?

You also may be entitled to a free credit report if you have been denied credit or insurance, were turned down for a job, or had your identity stolen. The company that denied credit should send a letter that lists which credit bureau they contacted to review your credit file. Contact that agency and request your free report.