Free Weekly Credit Report Offer Extended Through 2023

If you have gotten used to checking your credit reports regularly during the COVID-19 pandemic, we have some good news.

Free weekly access to your credit reports will be available through 2023, according to a Sept. 23 announcement from the three major credit-reporting companies.

That means you can continue to access your credit reports from Equifax, Experian and TransUnion as often as weekly at no cost.

The ability to check your report weekly for free has been the norm since early 2020, when the pandemic first arrived.

Prior to the pandemic, federal law stated that all consumers could access one free credit report every 12 months from each of the three major credit-reporting companies.

That federal law remains intact. But during the pandemic, the law has been rendered irrelevant, with the credit-reporting agencies offering even more generous terms than legally required.

In a press release, the CEOs of the three major credit-reporting companies said:

“The rising cost of living in the wake of COVID-19 has created economic consequences felt by many Americans. Our industry is committed to helping people better position themselves for strong financial futures. Credit reports play an important role in financial health, and providing weekly reports for consumers at no charge is another way that we can support financial education and stability for people across the U.S. at this critical time.”

Checking your credit report is wise. Not only can you catch errors and make sure they are corrected, but you also may spot dubious activity on your record that indicates someone has stolen your identity and is opening credit cards or taking out loans in your name.

If you are considering looking at your credit report soon, check out “How to Get Your Free Credit Report in 6 Easy Steps.”

Perhaps you don’t check your credit report because you are afraid to face the financial mistakes you made in the past. If you are having trouble handling debts, stop by Money Talks News’ Solutions Center for help finding free, professional credit restoration.

Credit reports versus credit scores

While your credit score is based on information in your credit reports, your score itself generally is not in your credit reports.

However, you can get your credit score for free as well if you know where to look, as we detail in “7 Ways to Get Your FICO Credit Score for Free.”

Understanding your credit score

Most people understand the importance of maintaining a high credit score. But not everyone realizes how widely their credit standing can impact their lives.

For example, having a poor credit score might prevent you from landing a job. As we have reported in “8 Types of Companies That Look at Your Credit Report“:

“As part of a background check, employers can request a copy of your credit report. The Fair Credit Reporting Act allows credit reporting companies to release your report for employment purposes.”

The employer has to request your permission to do the check, but your refusal could doom your chances of being hired.

On the other hand, many people mistakenly believe that some actions — such as checking your own score or failing to pay certain types of fines — can ding your credit. For more about such myths, read “5 Things You Think Could Hurt Your Credit Score — but Don’t.”

For more about boosting your credit score — and keeping it high — check out “7 Ways to Boost Your Credit Score Fast.”