The Fair and Accurate Credit Transaction Act (FACT Act) entitles consumers to request free annual credit reports each year. Credit reports from all three agencies can be obtained from one Web site, www.annualcreditreport.com. This Web site offers consumers a fast and convenient way to request, view and print their credit reports in a secure Internet environment. You can also request reports by telephone and by mail.

When you get your credit report, the first step is to make sure that your credit report is accurate. Balancing out a negative entry with consistent payments takes time and effort - getting rid of an incorrect entry is much easier and can make a big difference in your credit score. Here's how to check for and correct errors:

• Order a copy of your credit report from one or more of the three major credit reporting agencies.
• Review each account on your report to make sure it actually belongs to you, or did at one time.
• If an account that you no longer have is listed as open, contact the creditor and ask them to report it as closed.

If an entry is inaccurate, ask the credit bureau to investigate. They should give you a response within 30 days.