How to Get a Free Credit Report When Denied Credit
When you apply for certain products and services, the creditor will review a copy of your credit report to figure out whether you meet the qualifications. If there's information in your credit report that doesn't meet the creditor's standards, e.g. too many new accounts, the creditor may deny your application.
Adverse Action and Your Right to a Free Credit Report
The Fair Credit Reporting Act, the law that governs credit reporting, requires you to be sent an adverse action letter whenever you have an application denied because of information in your credit report. The adverse action letter should explain the reasons you were denied and inform you of your right to receive a free copy of the credit report that was used in the decision.
You then have 60 days to order your free credit report. This adverse action letter will include the name and address of the credit bureau that provided the credit report used in the decision and instructions for order your free credit report. Each of the three major credit bureaus also has a web page with information on ordering adverse action credit reports.
- or call 1-866-200-6020
Free Credit Report Only From One Bureau
In the case of an adverse action, you're only entitled to order a free credit report from the credit bureau who provided the report used in the creditor's decision. For example, if the lender reviewed your Equifax credit report to process your application, you're only entitled to a free Equifax credit report. The credit bureaus know whether to provide a free copy of your credit report based on your recent credit inquiries.
Note that the creditor, not the credit bureau, made the decision to deny your application. If you have any questions about why you were denied, the creditor will be able to answer them.
Make sure you order the free copy of your credit report to understand the information that led to your application being denied. If there's inaccurate information in your credit report, you can dispute it with the credit bureau to have it corrected. Once your credit report is updated with the correct information, you can resubmit your application for a better chance of being approved.
No Free Credit Report When Credit's Not a Factor
You can only order this specific free credit report when the information in your credit report was the reason you were denied. For example, if you were denied because your income was too low, you don’t qualify for a free credit report under this particular section of the Fair Credit Reporting Act. The creditor is still required to send a letter explaining why you were denied, but the letter will not include instructions for ordering a free credit report.
You Still Get an Annual Credit Report
The credit report you get when you're denied credit is in addition to the annual credit report that you can order once a year from the three credit bureaus through AnnualCreditReport.com.