Your Credit Report

• As a consumer, you have the right to know what is on your credit report. Under the Fair Credit Reporting Act, you are entitled to a free inquiry of your credit report from each of the three major credit reporting bureaus--Experian, TransUnion and Equifax in the United States. That means you can get three credit reports a year, available by phone, mail, or online at annualcreditreport.com, a government-authorized site. You have the right to make inquiries on your report as often as you want, but credit reporting agencies can charge a fee for all but the first in a year. Credit scores may also cost a fee.
  
  In addition to your yearly report, you have the right to a free copy of your credit report within 60 days of an adverse action--for example, being denied a line of credit. The Fair Credit Reporting Act does not provide any rights for access to your credit score. However, each credit reporting agency will offer your credit score (for a fee) as an add-on to your free credit report. Be wary of sites that charge money for access to your credit report.
  
  Note that all reporting agencies must comply with the Fair Credit Reporting Act, and this includes ChexSystems, which reports on banking activity.
  
  

Disputing Items

• In addition to seeing your credit report, you have the right as a consumer to dispute items on your report that you believe are inaccurate. Your credit report contains a combination of personal information and information about your accounts. Changing personal information, such as your address, is easy and can often be done through the credit reporting agency's website.
  
  Disputing information on your credit accounts is more difficult, and it should be done in writing. You should send a certified letter to both the credit reporting agency and the company that provided the bad information to the credit reporting agency, along with photocopies of supporting documentation. The Fair Credit Reporting Act requires credit reporting agencies to reply to your claim within 45 days.
  
  

Monthly Statements

• As a credit card consumer, you also have rights regarding how often you get your credit card statements and what information they must include. Statements on credit cards must be sent monthly by mail, or electronically if you choose paperless statements.
  
  More importantly, as of July 1, 2010, your credit card statements must follow a standardized, easy-to-read-and-understand format. In addition to making clear important figures, such as balances and accrued interest, credit card statements must include minimum-balance warnings and late-payment warnings, advising you of potential penalties and costs.