Get Your Credit Report, Credit Score the Right Way

May 10, 2010 — -- This week I offer you another one of my "resource columns" -- this time on credit, the topic I get asked about most. I've been doing a lot of these link-packed columns lately and gotten a great response. It seems sometimes the biggest battle is finding the right resources to help you manage your money wisely and SAVE BIG.

The big three credit bureaus are all now required by law to provide you a free copy yearly of the report they have compiled on you. Here is the website set up by the government to order your reports. One great strategy is to order from one bureau every four months instead of ordering them all at once, so that you are monitoring your credit year-round. Click here.

If you find mistakes on your credit report -- which is frustratingly common -- you should dispute them. If the credit bureau refuses to help you, complain. The Federal Trade Commission or FTC, is the nation's consumer watchdog, and the agency tasked with enforcing the Fair Credit Reporting Act and making sure credit bureaus respond to consumer complaints of inaccuracy. Click here.

Many people mistakenly believe they can get their credit score for free as well. Not so. (A few companies offer them for free, but with lots of strings attached.) FICO scores, developed by Fair, Isaac and Co., are the only ones that really matter when you need a loan. You can buy a genuine FICO score from Fair Isaac directly. Each score costs about $16. You don't need all the other bells and whistles unless you want them. Click here.

There are lots of rogue credit counselors out there who will put you deeper in debt rather than helping you get out of debt. You can find a legitimate credit counselor through the National Foundation for Credit Counseling -- click here -- or through the Association of Independent Consumer Credit Counseling Agencies. Click here.