An amendment to the federal Fair Credit Reporting Act allows Americans to have access to a free copy of their credit report annually from the country's top reporting agencies. This program is in full effect for the whole country by Sept 1, 2005.

With identity theft on the rise and credit reporting errors common, the need for average Joe to check his credit report is vital. If information is incorrect, you can be turned down for a loan or pay higher interest rates on a loan. Misinformation also means that some Americans pay higher car insurance rates. Accurate data is vital to your financial stability.

Information Links:
http://www.ftc.gov/bcp/conline/edcams/credit/ycr_free_reports.htm
http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htm

Order your reports now:
https://www.annualcreditreport.com/cra/index.jsp

All that stuff's over my head:
Consumer Reports magazine gives you the full details to decipher your credit reports.