Credit Reports

Lenders determine your credit rating by reviewing your credit history and score at a credit bureau. Know what your credit report says before you apply for your VA home loan, new car or any other large purchase, so you can correct any inaccurate data. It can take up to six months for credit reporting agencies to investigate and make a change in your credit report - give yourself at least 12 months to correct your data before you start.

At Military Hub, we recommend you get a copy of your credit report on a regular basis - at least once a year.

You are eligible to get a free copy of your own credit report:

If you have been denied credit, employment, or insurance within the last 60 days, you can take the written proof of your denial and mail it to the credit bureaus, requesting a free report.

If you have been charged higher rates and fees based on a credit report issued by a credit bureau, you have the right to get a free copy from that bureau.

If you are unemployed and aim to seek employment within the next 60 days, you can certify this in writing for the credit bureau.

If you are on welfare.

If you write to say you were a victim of fraud.

Some states have laws requiring the bureaus (Equifax®, Experian® and TransUnion) to provide one free credit report per year. You can also order your own credit report online at any time.

Thoroughly review your credit history and dispute any errors. You can remove black marks on your credit history even if they are quite old. Credit bureaus are legally responsible for reporting accurate information, but it's up to you to bring any errors to their attention.

Once the credit bureau receives your request, they have 30 days to respond. Make sure you do - protecting your credit rating is vital to good money management for your military lifestyle.