Another great tip learned from Rep. Weiner: Never take compromising photos of yourself, and definitely never send them to anyone!

So it turns out that Representative Anthony Weiner's (D-New York) Twitter photo scandal wasn't a hack after all. But let it still be a reminder to keep your confidential information safe with identity theft protection services and to change your password!

Q. Can I sign up for and pay annually for an identity theft protection membership service? I prefer to pay annually in lieu of monthly.

A. When you subscribe to a service such as identity theft protection, often it's more convenient or fiscally responsible to make one larger payment a year rather than a small one each month. Luckily, several of the services we review offer annual prepay options, and sometimes it even saves you more money:

TrustedID, $84.12 per year and up: This service monitors a number of different accounts for you and provides you with anti-spyware protection and one three-bureau credit report each year. We think it's the best value of the services out there, especially for families, because it offers a free 14-day trial and a 15% NextAdvisor discount.

LifeLock, $99 per year and up: This service gives you a free 30-day trial and monitors a wide variety of public records as well. NextAdvisor can offer it to you for 10% off. It's also a pretty strong value; it just doesn't have as many features as TrustedID.

Suze Orman's Identity Protector, $125.04 per year and up: Rounding out our annual prepay offers for identity theft protection services is Suze Orman's Identity Protector. When you sign up with Suze, you'll get three-bureau credit scores and reports. Plus this option bears the name of finance guru Suze Orman.

So whether an annual payment fits better into your budget or is less of a hassle, any of these three services could be great choices for you.

Somebody cared. Somebody took my information and used it to apply for credit cards and go on a drugstore shopping spree. Who spends $500 at Walgreen's? A jerk, that's who.

But all was not lost. At the behest of my mother, I had taken the university up on its deal with Experian, a discount on a credit monitoring service much like ProtectMyID.com. It put a fraud alert on my accounts, sent me copies of my credit report, and sent me notices every time anyone tried to access my credit report or open a new account. I was a bit shocked to learn that many credit inquiries had been done on me, meaning that someone tried to use my information more than once.

I resolved the drugstore charge separately with my bank; when someone steals your identity, you're not liable for purchases you didn't make. But it scared me into looking after my credit religiously. If you don't have identity theft protection, get it before a stranger makes you wish you had.

Q. What information do I need to give for identity theft protection? How quickly can it be activated?

A. Most identity theft protection services, including top-rated Identity Guard Total Protection, Trusted ID, and LifeLock, require similar information: first and last name, full street address (with state and ZIP code), phone number, date of birth, Social Security number, and email address. If you haven't lived at your current address for at least the past six months, you will need to provide your previous address.

You will also need to give your credit card information; even though most companies offer a free trial, they need to start billing you after that trial period has passed unless you cancel the service.

Each service takes a different amount of time to kick in. For example, both Identity Guard Total Protection and Trusted ID begin as soon as you sign up, but others, such as Protect My ID, require more time for parts of the service — the credit monitoring can begin immediately, but the account protection depends on when you enter that information for the accounts and how long it takes to verify.

The new score will generally penalize consumers less for one-time mistakes, such as paying a bill late. On the other hand, the new model is harsher on those people that carry very high debt to credit ratios.

Most lenders will continue to use standard FICO credit scoring methodology for now, but consumers should expect that the FICO 08 score methodology to become more frequently used over time. As such, it is a good idea to take a hard look at your current debt load and making plans to pay it down if you anticipate the need for additional credit in the near future.

Equifax is the second major credit bureau to adopt the new scoring methodology from FICO. TransUnion began offering the score back in January. It is unlikely that Experian, the remaining major bureau, will be offering FICO 08 any time soon as the two companies are currently involved in an ongoing lawsuit.

Q: Do the credit reports from Equifax with Score Power show the approximate drop off dates for delinquent cards or loans?

A: The credit reports provided by Equifax do not indicate when negative information, such as negative accounts, accounts that have been turned over to a collection agency, or public record information, will eventually expire and be removed from your credit report. However, in general, you can expect missed credit card and loan payments to remain on your report for 7 years from the time of delinquency. An account that has been turned over to a collection agency could remain on your report for 7 to 10 years. Unpaid tax liens stay on your report indefinitely, but paid tax liens drop off after 7 years. Foreclosures stay on your report for 7 years. Bankruptcies stay on your report for 7 to 10 years.

You may also be interested in our in-depth guide on how to read, analyze and dispute your Equifax credit report. To learn more about credit monitoring services, see our reviews and comparison chart.

Q: I am trying to select the best credit report monitoring service for my needs and have questions. Can I call you?

A: We would love to be able to address individual questions for each person who visits our website. Unfortunately, it would literally be impossible for us to do so given the many hundreds of thousands of consumers that visit our site each month. So we try to focus on having as much detailed information as possible on our website about each service.

When it comes to selecting a credit reporting service there are a couple of things to consider depending on whether your primary goal is to:

• Monitor your credit for any changes as cheaply as possible.
• Receive specific information about your current credit health (particularly if you are going to be applying for a loan in the near future).
• Have on-going access to as much information about your credit as possible.

If you are looking for a cheap way to monitoring your credit, then FreeCreditReport.com is probably your best bet. While this service only provides access to your Experian credit reports and scores (versus all three reports and scores like some other services), it does monitor your credit file at all three bureaus (Experian, Equifax and TransUnion) and alerts you as soon as any changes are posted for just $12.00 per month. This ensures that you can address any negative changes to your credit reports at the earliest possible moment.

If you are in the process of securing a loan or credit of any sort, we would suggest signing up for Equifax with Score Power. Not only does this service provide three bureau monitoring, it also gives you access to your FICO score (based off of your Equifax credit file) which is the type of credit score that most lenders use when make lending decisions. Equifax with Score Power also offers a free three bureau credit report and free FICO score when you sign up for a 30 day free trial, as well as unlimited Equifax credit reports for paying members (the service costs $14.95 per month after the free trial period).

Finally, if you want access to credit report and score data from all three credit bureaus plus three bureau credit reporting monitoring, then we would suggest Identity Guard. This service also has some great features, like free Internet security software for your PC, that will help protect your identity online and in the real world. Identity Guard offers free credit reports and scores from all three bureaus when you sign up for a 30 day free trial, then just costs $14.99 per month thereafter. You will receive all three credit reports and credit scores each quarter as a paying member.

You can learn more about these services and others by visiting our comparison and reviews of credit report monitoring services.

Q: Can the Equifax report be printed? About how many pages will it be? I have an ink jet printer and am worried about running out of ink. Can it be saved as a PDF or other printable document, and emailed to a friend for printing on another (office laser) better printer?

A: Yes, any credit report can be printed. The length will vary depending on your personal information and the format of the particular credit report, but you can probably expect it to be somewhere around 10-20 pages. The easiest way to print it from a different computer would be to go to log into the Equifax member center on that computer and access your credit report from there.

However, most credit reports, including those provided by Equifax, are designed to be viewed on screen rather than printed. Unless you have been asked to provide a paper credit report in order to secure a loan, there is no real benefit to printing one out. And if you do provide a paper credit report to a lender, you should be mindful of the risks involved in circulating a document containing so much sensitive personal information.

To learn more about Equifax and other credit report services, see our reviews and comparison chart.

Q: I just signed up for the 30 day free trial [of Equifax with Score Power]. How do I get to my credit report and FICO score?

A: Once you have signed up for a free trial with Equifax, your credit report and FICO score will be immediately available online.  Just use your member name and password to log into the Equifax Member Center. Once you have signed into the Member Center, click on the product link to access your credit report and FICO score.

To learn more about Equifax with Score Power or other credit report services, see our reviews and comparison.

According to Steve Ely, president of Equifax's Personal Information Solutions subsidiary:

"We remain committed to empowering consumers to take charge of their credit by continuing to deliver innovative products — including the FICO score — that enable consumers to understand their personal credit information, protect their identity, and maximize their financial well-being".

We reported earlier this month that Experian would no longer be offering the FICO score as of last Friday February 13, 2009.

The new FICO 08 score was created provide more accurate scoring for those consumers with limited or damaged credit histories who may represent a larger risk to lenders than those consumers with more established credit. According to Fair Isaac, the net result of the evolving score is that consumers with more established credit histories should see slight increases in their credit score when calculated using this new methodology.

The catch is that it will likely be a very long time until this scoring system is widely in use. Lenders typically test any score changes extensively before they begin using them for important lending decisions. Additionally, TransUnion is the only one of the three credit bureaus that is offering the FICO 08 score as an option for lenders. Equifax is expected to begin offering the FICO 08 laster this year. It is unlikely that Experian will be offering this new score anytime soon as the company is currently engaged in litigation with Fair Isaac.

The original FICO score will continue to be the score that lenders use most for the foreseeable future. Equifax offers a free FICO score when you sign up for a free trial of credit monitoring service. You can learn more about Equifax and other credit report monitoring services at NextAdvisor.com.

Q: What is the FICO number that is considered PRIME?

A: Before we get into what FICO score may be considered prime, it is probably a good idea to briefly cover what a FICO score is and what the term prime means as it relates to credit scoring and lending. A FICO score is a three digit number that is determined by calculating various factors in your credit report. FICO scores range between 300 on the low end and 850 at the high end. Since most consumers have three different credit reports (one from each of the three credit bureaus including Equifax, Experian and TransUnion) and each of those credit reports probably contain slightly different information, then it is likely that most adults have three different FICO scores. According to Fair Isaac, the company that created the FICO scoring methodology, about 90% of all lenders use a FICO score to make decisions about a consumers creditworthiness.

A FICO score takes into account a number of factors including your payment history, the number, type and age of your credit accounts and how much available credit you have. Consumers with higher FICO scores will generally qualify for better financial terms when they borrow money, whether you are applying for a mortgage loan, an auto loan or signing up for a new credit card. These types of loans are usually called prime or 'A' loans. On the other hand, consumers with lower credit scores will usually get less favorable financial terms. These are called sub-prime loans.

So, now to answer the original question of what FICO score range is considered prime. According to the Federal Citizen Information Center (FCIC), a government organization that publishes information for American consumers, a FICO score in the 700+ range will be viewed as a good credit risk for most lenders.

In the eyes of most lenders, FICO credit scores above 700 are very good and a sign of good financial health. FICO scores below 600 indicate high risk to lenders and could lead lenders to charge you much higher rates or turn down your credit application.

It is important to note that many lenders may take factors beyond just your FICO or other credit score into account when making lending decisions. But, generally speaking, those consumers with FICO scores above 700 should be able to qualify for the best financial terms when applying for any type of credit or loan.

The best way we know of to get access to your FICO score is to sign up for Equifax's credit monitoring service. Equifax provides a free Equifax FICO score at sign up along with a free three bureau credit report. The service also includes three bureau credit report monitoring which will alert you if any changes post to your credit file. You can learn more about Equifax and other credit report monitoring services at NextAdvisor.com

If you'd like to improve your credit score in the new year but aren't sure how to go about it, a credit report and FICO score from Equifax could be just the help you need. To learn more about Equifax with Score Power and other credit report and score services, see our reviews and comparison chart.

In this guide we are going to walk through a sample version of Equifax's online credit report with FICO score. If you don't already have your Equifax credit report you can get instant online access to an Equifax or three bureau credit report and FICO score at Equifax.com. This service will provide you with a free Equifax credit report, a free FICO credit score and a free trial of a credit monitoring service that will help you keep an eye on any changes to your credit file. Since Equifax offers a 30 day free trial, you can sign up without any risk.

You are also entitled to one free credit report per year from annualcreditreport.com. Keep in mind that credit reports ordered through annualcreditreport.com do not include a FICO score, which is a good indicator of your overall credit health. If you choose to order your Equifax credit report through annualcreditreport.com or purchase a credit report without a FICO score, however, this guide will still be applicable, after the first section.

We will explain how to read each section of the report and how to spot potential errors that may be lowering your credit score and costing you money or impacting your financial life in other ways. Like most of the other credit report and monitoring services, Equifax offers consumers the option to purchase what is known as a "3-in-1" or "three bureau" credit report which includes information from Equifax, Experian and TransUnion. Keep in mind that if you purchase a three bureau credit report from Equifax, which we strongly suggest since it will give you insight into how lenders view you across all three bureaus, the information from the Experian and TransUnion sections of the report will have been provided by the respective bureaus.

So, even though you will be able to view the information side by side, any disputes on non-Equifax information will need to be taken up directly with the appropriate credit bureau. The first installment of our "How to read, analyze and dispute credit reports" series explains how to review information from Experian, and a future installment will explain how to review information from TransUnion.

With that said, let's dive right into your Equifax credit report.

Section #1: Credit Score

This section tells you your FICO credit score, explains what factors are affecting your score, what your score means, and how you can improve it.

The score summary section gives you your FICO score, which is a number between 300 and 850, and tells you whether your score falls in comparison to other consumers. It also breaks down the major factors affecting your score.

The section titled "Understanding Your Score" breaks down the reasoning behind your FICO score in more depth, and lists the specific factors that are both hurting and helping your score. This section also offers suggestions on how to mitigate any of the detrimental factors.

The next section explains what your FICO score means to lenders, and how it will impact their perception of your loan risk.

The FICO Simulator is a useful tool that predicts how your score might change over time. The first three tabs let you play with different scenarios to see what actions could raise or lower your score, and the fourth tab advises you on the best strategy for improving your score.

Section #2: Credit Summary

The purpose of this section is to provide a quick snapshot of your current and prior credit history by showing the total number of open and closed credit accounts in your name, your outstanding balances for different types of credit accounts in your name and your history of delinquent accounts.

This section lists a variety of information all of your credit accounts. The types of accounts in this section include:

• Mortgage – this section includes accounts related to real estate that you have purchased.
• Installment – this section includes fixed amount credit accounts such as auto loans. Installment accounts are typically for a fixed amount and are paid off over time.
• Revolving – this section includes revolving credit accounts such as credit cards. They are called revolving accounts because although they may have an upper limit on what can be borrowed at any given time you can use as much credit as you have available.
• Other – this section includes additional accounts that don't fit into any of the other category types.

For each type of credit account listed above this section will list the following information:

• Total Number – the total number of credit accounts by type that have been reported to Equifax throughout your recorded credit history. This number will include both open and closed accounts. For example, if the count for your installment accounts is ‘2? then it would mean that Equifax has data about two different installment accounts in your name, even if some of those accounts have been closed by you or the creditor.
• Balance – the outstanding balance of all accounts of a particular type. This is what you owe to all the creditors of this particular credit account type according to information reported to Equifax and will be listed as an actual dollar amount.
• Available – the unutilized credit remaining on each account.
• Credit Limit – the maximum amount of allowed credit for each account.
• Debt to Credit Ratio – the percentage of your available credit that you are currently using.
• Monthly Payment Amount – the amount that you pay each month.
• Accounts with a Balance – the number of accounts of each type that carry an outstanding balance.

Here are some important things to look for in this section:

• Make sure that the number of accounts of a specific type, total accounts or total balances don't seem higher than they should be.

If you see any inaccuracies in any area of the credit summary section you should move immediately to the account history of your credit report which will have more detailed information on an account by account basis. This will help you further investigate whether or not your credit report contains errors.

Section #3: Accounts

The purpose of this section is to provide detailed information on all credit accounts that you have ever opened that have been reported to Equifax.

For each account listed in this section, there will be specific information about the type of account, the current status, dates and payment amounts, and any negative information associated with

This section also includes an 81 month payment history of each account listed that gives potential creditors insight into how you have kept up on your existing accounts. This information is represented graphically to show your account performance in each month.

The information that is reported in account payment history includes:

• * – This account is paid on time and in full.
• 30/60/90/120/150/180 – The number of days the account has been past due.
• CA – This account is outstanding and has been sent to a third party for collection.
• CO – This account is outstanding and the creditor is no longer attempting to collect payment.
• F – Property related to this account has been foreclosed.
• VS – Property related to this account has been voluntarily surrendered.
• R – Property related to this account has been repossessed.
• NR – No data is available for a particular month. This is usually because either the account was not open or the creditor has not reported information to Equifax in a given month.

Here are some important things to look for in this section:

• Make sure that the information in this section is accurate. Pay especially close attention to any information related to delinquency, collections or past due accounts either in the account details area or in the 81 month payment history, as all of these things negatively impact your credit report and credit score.
• Make sure all of your accounts in good standing are represented. Not all creditors report account data to all credit bureaus, so Equifax may not have access to information on all of your positive account information (of course, this means that they may not have access to negative account information as well). If you don't see an account that you believe to be in good standing listed in your Equifax credit report then contact your creditor and ask them if they report your account information to Equifax.
• Make sure you recognize all of the creditors and accounts listed in this section. Any unrecognized accounts could mean that your financial information may have been compromised and that identity thieves may have opened accounts in your name.

Keep in mind that different creditors report information to Equifax in different cycles so some information, such as the balance listed on your account, may not be totally up-to-date. This is fine as long as you have verified that it is an account that you recognize and that the information listed was accurate at some point in the recent past. If you don't see this type of information update over time it is a good idea to contact your creditor to see if there are any problems with your account or ask how frequently they report your account information to Equifax.

Section #4: Inquiries

The purpose of this section is to show what companies have requested your credit report from Equifax. This includes inquiries that may impact your credit rating, and inquiries that do not. Equifax treats these two types of inquiries very differently.

Inquiries that may impact your credit rating (hard inquiries):

• Are generated as a result of action taken by you such as completing a credit, insurance, mortgage or other loan application or due to the transfer of an account by the creditor to collections.
• Remain on your Equifax credit report for up to two years.
• Are viewable by creditors when they review your credit report.

Inquiries that do not impact your credit rating (soft inquiries):

• Are generated when a company pulls your credit report to evaluate you for an offer of credit that you have not requested. Pre-approved offers from credit card companies that you receive in the mail are typically generated as a result of a soft inquiry by the creditor who sent the offer to you, for example.
• Have no impact on your credit report or credit score.
• Are not viewable by anyone other than you.

For each inquiry, whether it is a hard or soft inquiry, the following information will be listed:

• The name of the company that requested the inquiry.
• The type of business that company operates. For example, if you filled out a credit card application with your bank the resulting inquiry would be listed as ‘Banks & S&Ls'.
• The date the inquiry was requested.

Here are some important things to look for in this section:

• Make sure that all of the hard inquiries are accurate. If you don't recognize the name of a company listed in this section then research it to find out whether or not you had actually initiated a credit inquiry with them. Keep in mind that some organizations have consumer brand names that are different than their actual corporate names, so you may not recognize the name listed in the report even if it is a valid inquiry. Searching for the company name in an Internet search engine such as Google or Yahoo is a good way to find out who they are.
• Make sure to take note of the total number of hard inquiries and their dates. Since hard inquires stay on your credit report for up to two years and have some negative impact on your credit report and credit score it is good to be aware of the number and age of hard inquiries that have been reported to Equifax.

If you find hard inquiries that don't appear to be accurate it is best to contact the company that made the inquiry first. The creditor will be able to research the purpose of the inquiry and assist you with getting it removed from your credit report if it was mistakenly reported to Equifax.

While soft inquiries won't impact your credit report or credit score in any way, as they are only viewable by you, there are ways to eliminate or at least limit the number of soft inquiries you receive. The fair Credit Reporting Act (FCRA) allows consumers to opt-out of receiving pre-screened offers of credit by calling 888-567-8688 or by visiting optoutprescreen.com.

Section #5: Negative Information

The purpose of this section is to document any information that could hurt your credit score. This includes negative accounts, accounts that have been turned over to a collection agency, and public record information. Public record information includes federal district bankruptcy records, state and county court records, tax liens and monetary judgments that have been levied against you. In some states overdue child support is also reported in this section. Public record items typically will stay on your credit report for 7 to 10 years.

The negative accounts section will list any ‘past due' accounts that have been reported to Equifax in your name. These include both open and closed accounts. Creditors will typically report a delinquent account to Equifax if it has gone unpaid for at least 90 days, although it can technically be reported sooner.

The collections section will list any accounts that have been turned over to a collection agency by one of your creditors because they believe the account has not been paid as agreed.

The public records section will list information about any bankruptcies, judgments and tax liens.

Here are some important things to look for in this section:

• Make sure that the number and dollar amount of delinquent accounts for each type of credit looks accurate. This is an important area to focus on because errors by creditors or accounts fraudulently opened in your name by identity thieves are likely to become delinquent accounts before they are sent to collections. By catching delinquent accounts early you can prevent them from being sent to collections, which can have a significant negative impact and, often, a higher cost to you.
• Make sure that the number of collections accounts looks accurate. Once an account has been sent to collections it will begin to have a significant negative impact on your credit score. Whether you simply have not been able to pay your bills, the creditor has made a reporting error or you have fallen victim to identity thieves, the collections section should be carefully scanned for accuracy.
• Make sure that any public record items are accurate.

Section #5: Personal Information

The purpose of this section of your credit report is to document your personal information such as name(s), age, address and work history.

The specific information listed in this section includes:

• Full legal name
• Any alternative names you may currently or have previously used to obtain credit
• Social Security number
• Date of birth
• Current and previous addresses
• Current and previous employers
• Any alerts that have been placed on your credit file

Here are some important things to look for in this section:

• Make sure that your name is correctly displayed and that any alternative names or alias are accurate. If there are alternative names listed that you have never used then it could be a sign that Equifax has confused your credit file with that of another consumer with the same or a similar name.
• Make sure your year of birth is accurate. Again, an error in this section of your credit report could mean that you are being confused with another consumer.
• Make sure that there are no addresses where you have never lived or employers that you have never worked for listed in the respective sections. Keep in mind that it may take some time for these sections to update when you move to a new residence or take a new job. For this reason, it is fine if the information is outdated as long as it is still accurate. For example, it is not a problem if you have recently changed jobs and your credit report still lists a former employer as your current employer. However, if your credit report were to show that you currently or previously worked for an employer by whom you were never employed, then you may have a problem.

Section #6: Dispute File Information

If you find information that you believe is inaccurate on your credit report it is important to act quickly as these errors could not only be costing you money, but could also be early warning signs of possible identity theft. Luckily, Equifax makes it fairly simple to dispute any credit report item that you believe to be inaccurate.

From this section of your credit report, you can simply click the link that says, "Click here to begin an online investigation of information found in your file." This will take you to an online dispute resolution form. Be ready with the confirmation number located at the top of your credit file. When submitting your dispute, provide an explanation as to why you believe that the particular item is inaccurate. You should be as descriptive as possible. Just saying "This is wrong" or something similar will not be sufficient. You should provide specific reasons as to why you believe the information on your Experian credit report is erroneous as well as any supporting evidence that you may have. Equifax will review your request and notify you within 30-45 days of their decision on the dispute. If the dispute is resolved in your favor, Equifax will remove or correct information that is inaccurate or cannot be verified during their investigation.

If you would like to receive the results of your dispute through mail as opposed to email, you should submit your dispute by mail or by phone.

In addition to disputing inaccurate information with Equifax, we strongly suggest that you contact the company that reported the account information to them in the first place. Under the Fair Credit Reporting Act (FCRA) both the credit bureau and the company that reported the information are responsible for the accuracy of account information on your credit report. If you believe that one of your creditors has reported inaccurate information then you should contact them directly. Each company has a different dispute resolution process but it is a good idea to contact their customer service department as a first step, as they will likely be able to provide you with the appropriate steps to take.

Conclusion

Your credit report is like your resume for potential lenders. It gives insight into the positive and negative elements of your credit history based off of information reported by your previous creditors. It is important to not only limit the number of negative items on your report by practicing healthy credit usage habits, but to make sure you have insight into any potential erroneous or inaccurate information as those errors may be costing your thousands of dollars or more.

We invite you to check out our online credit report monitoring service comparison guide where you can learn more about credit reports and monitoring from a variety of service providers.

We hope this guide has been a helpful tool in enabling you to better understand the information on your Equifax credit report and, just as importantly, get a better idea as to how potential lenders may view you. Stay tuned for our next installment where we will cover the specifics of reviewing your TransUnion credit report.

In the meantime, let us know if you have any feedback on this guide or if there are any additional questions you may have about your Equifax credit report by leaving us a note in the comments.

A: Many people believe that shopping around for mortgages, home loans or auto loans can negatively impact their credit score because it requires authorizing multiple lenders to pull your credit file. This is not necessarily the case according to the Fair Isaac Corporation, the makers of the FICO credit score which most financial institutions use to make lending decisions.

The FICO score is specially calibrated to take into account the fact that most people will shop around for the best deal when they are securing a loan for a major purchase. Here is how Fair Isaac explains the impact of "rate shopping" on your FICO score:

Looking for a mortgage or an auto loan may cause multiple lenders to request your credit report, even though youre only looking for one loan. To compensate for this, the score ignores all mortgage and auto inquiries made in the 30 days prior to scoring. So if you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping. In addition, the score looks on your credit report for auto or mortgage inquiries older than 30 days. If it finds some, it counts all those inquiries that fall in a typical shopping period as just one inquiry when determining your score. For FICO scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO score.

If you are looking for an easy way to monitor your FICO credit score we recommend Experian Credit Watch Gold with Score Power. This service monitors your credit file with all three credit bureaus, gives you access to all three credit reports and your FICO score. Equifax earned five stars on our comparison of identity theft protection services. Visit our identity theft protection service comparison to learn more.

A: The Fair Credit Report Act (FCRA) entitles each and every American consumer to one free credit report per year from each of the three credit reporting bureaus including Equifax, Experian and TransUnion. The three credit bureaus set up the website AnnualCreditReport.com which allows consumers to request their free credit reports.

It is important to note that the free credit reports you receive through AnnualCreditReport.com don't include your credit score. Many of the credit report monitoring services that we have reviewed offer both a free credit report and free credit score for signing up for a free trial of their credit report monitoring service. You can keep the credit report and score even if you decide to cancel the credit report monitoring service during your free trial.

We recommend Equifax's credit reporting monitoring service since they provide you with a free 3 bureau credit report and FICO score when you sign up for a free trial of their service. It is important to know your FICO score since it is the credit score that most lenders use to make lending decisions. gain, your free credit report and FICO score are yours to keep even if you decide to cancel your 30 day trial of Equifax credit report monitoring service.

You can learn more about Equifax and other credit report monitoring services by visiting our credit report monitoring service reviews and comparison.

A: While free trial periods are great to evaluate whether or not a particular credit report monitoring service is a fit for your life, it is important to realize that once the trial period is over you will have to live with the monthly fee.

Below is a list of the free trial periods and monthly fees of the top five credit report monitoring services we have reviewed. We have also included information on what credit report and score data you receive when you sign up. This is important because in almost all cases you get to keep the initial credit report and score information your receive during your free trial.

Equifax offers a 30 day free trial and costs $14.95 per month thereafter. Upon sign up you will receive a free FICO score and free 3-bureau credit report which are yours to keep even if you decide to cancel during the free trial period.

CreditCheck Total offers a 7 day free trial and costs $14.95 per month thereafter. Upon sign up you will receive free reports and scores from all three credit bureaus which are yours to keep even if you decide to cancel during the free trial period.

Identity Guard does not offer a free trial, but will give you your second month for free. The ongoing monthly fee is $11.99. Upon sign up you will receive free reports and scores from all three credit bureaus.

FreeCreditReport.com offers a 7 day free trial and costs $12 per month thereafter. Upon sign up you will receive a free Experian credit report and score which are yours to keep even if you decide to cancel during the free trial period.

Privacy Matters 123 offers a 7 day free trial and costs $19.95 per month thereafter. Upon sign up you will receive free reports and scores from all three credit bureaus which are yours to keep even if you decide to cancel during the free trial period.

To learn more about credit report monitoring services visit our credit report monitoring service reviews and comparison.

A: The short answer is that the Fair Isaac score, more commonly know as the FICO score, is the most common score used by lenders such as credit card companies, mortgage lenders, auto dealerships and landlords.

However, the answer really isn't as simple as one dominant score. In fact, there are nearly as many different credit scores as there are lenders. The reason is that most major lenders use custom lending criteria to establish your credit score based off of the type of loan you are trying to qualify for.

These custom credit scoring criteria are essentially complex calculations that take into account various aspects of your credit history as they relate to the type of credit you are attempting to secure. For example, an auto loan company is very likely to create custom scoring criteria that weighs your history with auto loans more heavily than other items on your credit report. The same goes for credit card companies, mortgage lenders and other financial companies.

Most of the time these custom scoring criteria are based off of the FICO scoring methodology. In some cases, business may use a methodology based off of the one of the major credit bureau scores individually or as a group with what is called the Vantage score. This score was created by the the three credit bureaus to compete with the FICO score but is used far less frequently in lending decisions.

So, your FICO score, which you can receive free when you sign up for a free trial of Equifax credit monitoring service, is typically the best indicator of the score that a financial lender may use to make credit decisions about your creditworthiness.

The exception is when an individual or business is attempting to use your credit score to determine your overall financial health and character. This may occur when you are renting a house or apartment or applying for a new job. In these cases the individual pulling your credit file will likely be more interested in the negative items on your credit report rather than the actual score.

In either scenario, it is a good idea to check with the potential lender or creditor to determine which type of credit score they base their decisions on and get access to that score. You can learn more about services that will provide you with access to credit report and credit score information by visiting our credit report service comparison.

Like all lenders Sallie Mae reports account history information for all their borrowers to all three of the major credit bureaus including Equifax, Experian and TransUnion. In the most recent data transfer an error caused about 10% of all accounts, or about one million total borrowers, to appear delinquent.

Sallie Mae realized the issue and contacted all three credit bureaus. Equifax had already posted the information the impacted individual's accounts which immediately lowered their credit scores. Experian or TransUnion scores were not impacted.

The issue has been resolved and the Equifax credit scores have been restored for impacted individuals. Those who believe they may have been impacted are encouraged to contact Sallie Mae directly at 1-888-2-sallie. Sallie Mae will also provide credit references to impacted consuers upon request.

"We certainly and fully understand the importance of one's credit rating and we worked with urgency to resolve this situation," Said Sallie Mae spokesman Tom Joyce.

Those consumers that utilize a credit report monitoring service would have received immediate alerts when these changes were posted to their Equifax credit report and score. To learn more about credit report monitoring services we suggest visiting our credit report monitoring service reviews and comparison.

Q: Which credit report monitoring services provide will provide me with free credit reports and scores beyond the initial free credit report I receive when I sign up?

A: Most of the services we have reviewed offer unlimited access to your credit report from at least one of the credit bureaus.

For example, Equifax with Score Power gives a free 3 bureau credit report when you sign up plus you can view your updated Equifax report as often as you want for as long as you are a member of their service. You can learn more by reading our detail review of Equifax with Score Power.

CreditCheck Total, on the other hand, not only gives you access to a free 3 bureau credit report when you sign up, but also access to all three credit reports and scores any time you want to access them. You can learn more by reading our detailed review of CreditCheck Total.

Deciding which service is right for you really depends on your needs. While CreditCheck Total will give you access to all of your reports and scores, Equifax is the only provider that will give you access to your FICO score which is the credit score most lenders use when they are evaluating your creditworthiness. If having Access to your FICO score is important to you then Equifax is probably your best choice.

Both services have extensive 3 bureau credit monitoring meaning that you will have access to real-time updates anytime there are changes posted to any of your credit reports.

You can learn more by visiting our credit report monitoring service reviews and comparison.

Q: My wife and I keep all of our financial accounts in both of our names. If I sign up for LifeLock or Equifax will it also cover my spouse?

A: The short answer is that each of these services, LifeLock for identity theft protection and Equifax for credit report monitoring, will only fully cover you and your spouse if both of you are subscribers.

LifeLock makes it very simple for married couples to sign up for their identity theft protection service together since they will allow both of you to register on a single form. You can even sign your kids up for LifeLock's child identity theft protection (Editor's note: all parents should read our child identity theft protection guide to learn why they need to protection their kids from identity thieves).

Equifax does not have a shared sign-up form for married couples. However, their registration process can be completely safely and securely online. Once you have signed up you will have immediate online access to your credit report and credit score, including your FICO score which is the score that most lenders use.

We strongly suggest that both you and your spouse sign up for these services individually for full protection and insight. By only covering yourself you will not have any insight into new account identity theft perpetrated against your spouse. Additionally, both you and your wife have you own credit files. The credit bureaus do not combine them when you are married, so you will not have visibility into your wife's credit report and score if she does not sign up for credit report monitoring in her own name.

Q: What is the best way to receive a free FICO score online?

A: The easiest way to receive your FICO score is by signing up for Equifax with Score Power. Since the FICO score is the score most lenders use to make decisions, this is the best score you can get. Equifax actually gives you an entire Score Power report which not only includes your FICO score but also a FICO Score Simulator that estimates what your score would be if you took certain actions, as well as a full explanation of factors affecting your credit score.

When you sign up you will receive your Equifax FICO score and your credit report from all three credit bureaus including Equifax, Experian and TransUnion.

You will also receive a 30 day free trial to the Equifax three bureau credit monitoring service. If you choose to cancel your membership during the free trial you can still keep your FICO score and three bureau credit report free of charge. However, the credit report monitoring service is a great way to stay up-to-date with changes to your credit report and also gives you insight into how lenders view your credit history.

You can sign up for Equifax with Score Power and receive your free Equifax FICO score and three bureau credit report by clicking here.

Q: What is the best way to receive my free credit report?

A: The Fair Credit Reporting Act (FCRA) allows you to receive one free credit report per year from AnnualCreditReport.com. Credit reports can be requested online or by phone. If you request a credit report online you will receive it immediately, but those requested by phone will take up to 15 days to be processed. Learn more more by visiting www.annualcreditreport.com.

If you would like to receive more frequent access to your credit report and credit monitoring that will alert you to any changes in your credit report as they occur, we suggest you consider a credit report monitoring service. Equifax with Score Power which offers monitoring of your credit reports with all three credit bureaus plus access to your Equifax credit reports and FICO score.

You can learn more about Equifax with Score Power and other credit report monitoring services by visiting our comparison of credit report monitoring services.

Q:With respect to the Identity Theft company comparisons that you provide, Identity Guard states the following during an enrollment process:

As of April 2, 2008, the Credit Bureau Fraud Alert feature will no longer be offered through your Identity Guard service.

It seems to me that without this important feature, they are no longer worth the higher cost of $14.99 cost per month.

Have the other services such as LifeLock also discontinued this feature?

A: You are correct in that Identity Guard is in the process of discontinuing their fraud alert feature. They are the only service that we are aware of that is planning to discontinue fraud alerts. LifeLock most certainly still allows their members to set fraud alerts as a part of their identity theft protection service.

Identity Guard will continue to provide three bureau credit report monitoring that will allow you to monitor chanegs to your credit report with Experian, Equifax and TransUnion. This is a service that LifeLock does not provide, although LifeLock will give you one free credit report per year as part of the annual credit report program.

If fraud alerts are important to you, and we feel that fraud alerts are a very important part of preventative identity theft protection, then LifeLock is the best service from our perspective.

Q: I was impressed by your review of the various credit reporting services, but also a little confused by all the choices. Maybe you can help me. My primary concern is to check my FICO score on a regular basis (say, monthly) — which service would be best for me?

A: If your primary goal is to monitor changes in your FICO score then we believe that myFICO is the best credit report service for you. However, if you want some of the additional benefits that people typically associate with credit report monitoring services, such as on demand access to credit report data and credit report monitoring, you may want to consider a service like CreditCheck Total.

MyFICO will provide you with two free score power reports each year which include your up-to-date FICO score. They will also provide you with an updated FICO score anytime there is a change to your credit file. This will ensure that you always know how changes in your credit report are impacting your FICO score.

There are some limitations to MyFICO in that they only monitor your Equifax credit report. Since all three of your credit reports, including Experian, Equifax and TransUnion, can differ from each other you won't necessarily have direct access to all the information that could be impacting how lenders view your creditworthiness. Additionally, MyFICO only gives you two reports a year while some other services allow you to access data at any time.

CreditCheck Total, for example, will give you access to all three credit reports and all three credit scores on demand. This doesn't include FICO scores, but will still give you a good indication of how you overall credit health is trending. CreditCheck Total also has the added benefit of helping protect you from identity theft by monitoring all three of your credit reports for changes.

The trade off with CreditCheck Total is that you won't have access to the FICO score data you are most interested in receiving on a frequent basis. CreditCheck Total also has a more expensive monthly fee at $19.95 versus MyFICO's $7.50

The good news is that both MyFICO and CreditCheck Total offer a free trial of 30 and 7 days respectively. So, you could try each out and decide which is right for you.

You can also learn more by visiting our full comparison of credit report monitoring services.