The FACT Act, which stands for Fair and Accurate Credit Transactions, was signed by President Bush in late 2003. This act made significant changes and additions to the Fair Credit Reporting Act. Some of the main benefits of the FACT Act are:
You can read a more in-depth discussion of the FACT Act on Wikipedia.
One of the provisions of the FACT Act was the establishment of central website where individuals could go to obtain a free annual copy of their credit report from each of the three credit bureaus (TransUnion, Experian, and Equifax).
There are three ways to order your free annual credit report:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
(your report will be mailed out within 15 days after receiving your request form
The Fair Credit Reporting Act requires that both the credit bureau which provides the credit report and the the person or company that provides information about you to the credit bureaus are responsible for correcting inaccurate or incomplete information in your report. To find out more on how to dispute items on your credit report, you can read the article on disputing a credit report mistake.
Below are more articles on credit that you may find helpful: