MoneyWACH-Credit Reports


Why are credit reports important?

It‘s important to understand the information on your credit report, regardless of your financial situation. This information directly impacts your ability to obtain a credit card, buy a car or home, rent an apartment or even get a job. Review your credit to make sure it is accurate and protect yourself from fraud.

You should get a free credit report from each of the three nationwide consumer reporting companies (Equifax, Experian and TransUnion) every 12 months. Some consumers elect to get a report from one of the three credit bureaus every four months, providing a staggered look at their credit status.

The official web site,, is the ONLY authorized online source for you to get a free credit report under federal law. Some other sites claim to offer "free" reports but may charge you for another product if you accept the "free" report. You may also receive your free credit report by calling 1-877-322-8228.

Did you know: Some studies claim as many as 80% of credit reports contain an error and a quarter have mistakes that could trigger a denial of credit. *2004 study from the U.S. Public Interest Research Group

MoneyWACH is a partnership between Palmetto Citizens Federal Credit Union and WACH FOX focused on financial education in the Midlands. Over the course of the year we'll cover financial and economic topics that matter to you. The segment airs the first Monday of every month on Good Day Columbia and will also be archived here for your convenience. Achieve your potential with Palmetto Citizens Federal Credit Union and WACH FOX.