I am sure you’ve seen those commercials, touting you need to have a credit rating of 720….

But have you ever thought about what that means?  The FICO credit score ranges between 300 and 850. The VantageScore score ranges from 501-990.  Typically the 720 refers to an FICO credit score..

Think about that… The adverts are suggesting that you need roughly a 84.5% credit score, to be able to “Get a cell phone”, “Get a car”, “Get a job”….

While, I agree credit scores are great…  Just keep in mind what they are asking you to have when you see these commercials…

Important information from the Federal Trade Commission, the nation’s consumer protection agency: annualcreditreport.com is the ONLY authorized online source for you to get a free credit report under federal law. You can get a free report from each of the three national reporting companies every 12 months. Some other sites claim to offer ‘free’ credit reports, but may charge you for another product if you accept a ‘free’ report.”

The AnnualCreditReport.com website was easy to use and we were able to access all three reports without paying a penny.

You can also get your free credit report via phone by calling 877-322-8228. Just remember, you can only request one free credit report from each of the three credit reporting agencies each year.

Why do you need a copy of your credit report?

You might be wondering why you’d want a copy of your credit report. There are many reasons you should check your credit report, including making sure your information is correct (which is important if you want to apply for a loan or a new credit card). You very likely will find mistakes on your credit report.

Further, getting a copy of your credit report is important to help monitor against identity theft. You can read more about identity theft here.

Here are four tips for getting your free credit report:

Tip 1: Watch your spelling if you type in the web address (rather than click on our link) — many of the bogus sites are just one letter away from the site you want.

Tip 2: To gain maximum benefit, you may want to space out your free credit reports from each of the 3 credit bureaus over the year. This will allow you to see changes that occur over time.

Tip 3: Print or download your credit report(s) immediately. You may not be able to gain access again for free later.

Tip 4: After you get your free credit report, quit your browser so no one else can access it.