Up to 3 requests may be staggered throughout 12-month period
he Federal Trade Commission today announced the three nationwide consumer reporting companies – Equifax, Experian, and TransUnion – will begin processing consumers' requests today for free annual credit reports at www.annualcreditreport.com.
A credit report contains consumers' identification information; payment history with different creditors; a list of inquiries made by various financial institutions; and information on the public record, such as foreclosures or bankruptcies. Consumer reporting companies collect and sell this information to lenders and other businesses that have a permissible purpose to obtain it.
The Fair and Accurate Credit Transactions Act of 2003 amends the Fair Credit Reporting Act and requires the nationwide credit bureaus to provide consumers, upon request, a free copy of their credit report once every 12 months. Consumers in 13 Western states may request a free annual credit report beginning today.