Consumers in Missouri will soon be able to get free credit reports due to the Fair and Accurate Credit Transactions Act (also known as The FACT Act). The Act requires the three major credit bureaus – Equifax, Experian, and TransUnion – to provide consumers, upon request, a free copy of their credit report once every 12 months.

"This presents the perfect opportunity to check your credit report," says Sandra McKinnon, consumer and family economics specialist with University of Missouri Extension. "Many people don’t know what their records show until they are trying to purchase a car or home and are surprised to be denied credit."

"There may be errors on their report or they may be a victim of identity theft," explains McKinnon. "The time to find out what your credit report contains about you is before you make a major purchase, start a new job, or apply for insurance."

The three consumer reporting companies have set up one central web site, toll-free telephone number, and mailing address through which you can order your free annual report. To order, visit www.annualcreditreport.com, call 877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The form can be printed from www.ftc.gov/credit. You may order your reports from each of the three nationwide consumer reporting companies at the same time, or you can order from only one or two. Do not contact the three nationwide consumer reporting companies individually.

The Act promotes the accuracy and privacy of information in the files of the nation’s consumer reporting companies. A credit report contains information on where you live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home.