Weekly Credit Reports Now Free for a Year

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Weekly Credit Reports Now Free for a Year

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We all know how important credit reports are (and if you don’t – the answer is very). Whether you’re buying a car, a house, applying for a loan, or trying to rent, credit reports are currently the most objective way to determine if someone is money savvy or a financial gamble. In great news, Experian, Equifax, and TransUnion have announced that all Americans will be able to get their credit report once a week, for free. It gets better – free weekly credit reports will be available for a whole year until April 2021.

We all know how important credit reports are (and if you don’t – the answer is very). Whether you’re buying a car, a house, applying for a loan, or trying to rent, credit reports are currently the most objective way to determine if someone is money savvy or a financial gamble. In great news, Experian, Equifax, and TransUnion have announced that all Americans will be able to get their credit report once a week, for free. It gets better – free weekly credit reports will be available for a whole year until April 2021.

Normally, federal law allows consumers (that’s you!) to get a free copy of your credit report every 12 months. In response to the uncertainty of COVID-19, the major three credit bureaus have temporarily changed that. At AnnualCreditReport.com, you can get your free weekly credit report in 3 steps:

        1. Fill out a form.

Here you’ll provide your information and how many reports you want.

        1. Pick the reports you want.

This can be either an Equifax, Experian, or TransUnion credit report.

        1. Request and review your reports online.

This will require you to answer a few more questions, which are meant to be unique information only you should know to verify your identity. This makes sure no one except for you can get your credit information.

Normally, federal law allows consumers (that’s you!) to get a free copy of your credit report every 12 months. In response to the uncertainty of COVID-19, the major three credit bureaus have temporarily changed that. At AnnualCreditReport.com, you can get your free weekly credit report in 3 steps:

1. Fill out a form.

Here you’ll provide your information and how many reports you want.

2. Pick the reports you want.

This can be either an Equifax, Experian, or TransUnion credit report.

3. Request and review your reports online.

This will require you to answer a few more questions, which are meant to be unique information only you should know to verify your identity. This makes sure no one except for you can get your credit information.

Be aware that your free credit report does not include credit scores (VantageScore or FICO).

As you’re looking through your credit report, check to see if you recognize your personally identifiable information (PII) like names, addresses, your Social Security Number, accounts and loans. If you see information that is missing or incorrect, contact the report provider (one of the three credit bureaus).

Be aware that your free credit report does not include credit scores (VantageScore or FICO).

As you’re looking through your credit report, check to see if you recognize your personally identifiable information (PII) like names, addresses, your Social Security Number, accounts and loans. If you see information that is missing or incorrect, contact the report provider (one of the three credit bureaus).

Free Credit Reports and Rental Housing

You should not use this free report for screening potential tenants. When it comes to directly accessing credit reports for rental housing decisions, you must have a permissible purpose to do so. Consumer-initiated reports, such as annualcreditreport.com, require the applicant to authorize and facilitate their report being accessed.

If a rental applicant comes to you with a copy of their credit report or background check, and you aren’t viewing it directly from the source online (such as with consumer-initiated tenant screening), then you should not accept their copy for your rental decision. This is for two reasons:

  • It could be fake.
    Fraudulent tenant screening reports are not uncommon. With some digital software, editing the contents within their report can be done easily to remove eyebrow-raising tradelines or a worrisome credit score.
  • Not all credit scores are equal.
    Although you should not use these free weekly credit reports to vet your rental applicants, it’s a great tool to help you stay on top of your own financial standing. Your credit report affects more than just rental housing. As we said before, credit reports are used when you want to buy a car, a home, apply for a loan and more. By staying aware and active, you can increase your chances of getting a better deal or landing that dream home.

Free Credit Reports and Rental Housing

You should not use this free report for screening potential tenants. When it comes to directly accessing credit reports for rental housing decisions, you must have a permissible purpose to do so. Consumer-initiated reports, such as annualcreditreport.com, require the applicant to authorize and facilitate their report being accessed.

If a rental applicant comes to you with a copy of their credit report or background check, and you aren’t viewing it directly from the source online (such as with with consumer-initiated tenant screening), then you should not accept their copy for your rental decision. This is for two reasons:

1. It could be fake.
Fraudulent tenant screening reports are not uncommon. With some digital software, editing the contents within their report can be done easily to remove eyebrow-raising tradelines or a worrisome credit score.

2. Not all credit scores are equal.
Although you should not use these free weekly credit reports to vet your rental applicants, it’s a great tool to help you stay on top of your own financial standing. Your credit report affects more than just rental housing. As we said before, credit reports are used when you want to buy a car, a home, apply for a loan and more. By staying aware and active, you can increase your chances of getting a better deal or landing that dream home.

Although you should not use these free weekly credit reports to vet your rental applicants, it’s a great tool to help you stay on top of your own financial standing. Your credit report affects more than just rental housing. As we said before, credit reports are used when you want to buy a car, a home, apply for a loan and more. By staying aware and active, you can increase your chances of getting a better deal or landing that dream home.

Although you should not use these free weekly credit reports to vet your rental applicants, it’s a great tool to help you stay on top of your own financial standing. Your credit report affects more than just rental housing. As we said before, credit reports are used when you want to buy a car, a home, apply for a loan and more. By staying aware and active, you can increase your chances of getting a better deal or landing that dream home.

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