How can you get a new credit file for free?


Quick Answer

Getting a new credit file for free isn't legally possible. While some credit repair companies offer new credit files through use of an Employer Identification Number or new Social Security number, applying for personal credit using these methods is illegal, notes the Federal Trade Commission. There are several legitimate ways people can clear things from their current credit file to improve their credits scores, states Bankrate.

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Full Answer

Companies who scam consumers may promise new credit files, and tell consumers to apply for Employer Identification Numbers through the IRS, states the Federal Trade Commission. People who obtain Employer Identification Numbers and use them under false pretenses to secure credit could be fined or imprisoned. Scam artists may also offer to provide people with new credit profile numbers to obtain new credit files. These numbers may be stolen social security numbers, often those of children, and using these numbers to obtain a new credit file is also a violation of federal law.

Those who wish to have a better credit file can do so by keeping their credit balances low, eliminating smaller debts on their files, paying their bills on time and making credit payments on times, notes Bankrate. People should also regularly check their credit reports, which they can get free once every 12 months from the three major credit bureaus.

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