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Whether you're a points and miles junkie or newly beginning your credit journey — whether you've got 30 credit cards or just want to understand ways to improve your credit to get a better interest rate as you prepare to buy your first home, your credit score is important. And part of making your score the best it can be is ensuring everything on your credit report is accurate. And because there are free methods to access your credit report, you shouldn't ever pay for a copy.
At the outbreak of COVID-19, the three largest credit reporting agencies in the U.S. — Equifax, Experian, and TransUnion — overhauled AnnualCreditReport.com. As the name implies, you could use this service to get an annual credit report for free, once each from the three major agencies. But a change permitted accessing your reports weekly during unprecedented economic uncertainty.
As people lost their jobs, travel was upended, and small businesses shuttered, this temporary change allowed people to keep track of their credit reports. And now that temporary change has become permanent.
In a joint statement from the CEOs of Equifax, Experian, and TransUnion, the companies said weekly access to your credit report (from all three agencies) has become a permanent feature of AnnualCreditReport.com. The statement says,
“The ongoing availability of free weekly credit reports is another way that our industry is supporting consumers as they make financial decisions. We recognize the important role that credit reports play in people's financial lives and encourage consumers to regularly check their credit history — an important way of understanding their current credit position and preparing for important future financial milestones.”
To be clear, this credit report doesn't show your credit score. However, your score is based on the information in your credit report, so it's important to ensure the report is accurate. Once you access your credit report, look through it carefully to ensure things like account history, your personal details, and any negative remarks are correct. If not, you should contact the credit reporting agency to update this information.
For more information about your credit score and building healthy credit, check out these articles:
- A Beginner's Guide to Building Healthy Credit
- Tips for Managing Your Credit Score
- Can More Credit Cards Help Increase Your Credit Score?
- A Beginner's Guide to Building a Credit Card Application Strategy
- The Impact of Being an Authorized User on a Credit Card Account
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