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How to Redeem My Free Annual Credit Report?

Under the Multiple Credit Reference Agencies (MCRA) model, TransUnion is required to provide you with a free annual credit report. Reviewing your credit report regularly helps you ensure the information reported is accurate. It also gives you an opportunity to monitor your account history to combat identity theft. Each consumer is eligible to obtain a free credit report from TransUnion once per calendar year. Existing subscribers who claim their free credit report during their subscription period will get two reports on the day they apply for the free report in their record (i.e. one from their subscription, the other is the free credit report offered once per calendar year).

credit report

You have more than one credit report.

When you redeem your free TransUnion annual credit report, you can still to claim your free credit reports from other appointed Credit Reference Agencies (CRA). Each CRA has a different way to present the credit report and will have their own scoring algorithms.  Hence, the information in these reports can differ. Also, when you apply for credit products, for example, personal loan, credit card or mortgage, the credit provider may only pull your credit report from one of the Credit Reference Agencies (CRA). 

What should I look for in my credit report?

When reviewing your credit report, please check that all the information listed is up-to-date and accurate. Here’s a brief breakdown on the items that you should verify in each credit report:

  • Personal Information
    Your personal information, including name, phone numbers, and addresses, will not be used to calculate your credit score, but regular verification of your personal information can help ensure that the credit information is accurate, and have not been stolen or modified.

  • Credit Accounts Information
    Credit accounts information contain your current and previous secured and unsecured loans, and credit card usage, including credit card limit, credit utilization and repayment records. Negative repayment records (for example: delinquent records) may have a negative impact on your credit score. You can verify the list of accounts and account information in the credit report to prevent identity theft.  You can always request data correction if you see inaccurate information on your credit report.

  • Credit Inquires
    There are 3 types of credit inquires, including hard, soft and self-checking.  Self-checking, such as regularly monitoring your credit report online, will not be recorded on the credit report, and soft inquiries that fall under the category of "other credit inquiries", such as regular check by the consumer's existing credit provider, will not affect the credit score. However, when the existing or prospective credit providers, such as banks and money lenders, conduct a "credit application inquiry" with your authorisation and consent, this is known as a hard inquiry. Every hard inquiry will be recorded on the credit report. You can verify the inquiry party and the number of inquiries in the credit report to confirm whether personal information has been stolen.  Please be aware that excessive hard inquiries will have a negative impact on your credit score.

Learn How to Read Your Credit Report

If you're reading through your credit report and aren't sure what each section means, start here. Our interactive tool includes an example credit report and offers information and tips about what you might see in your own report.