Consumer Protection

• The 2003 FCRA amendment that made free annual credit reports a reality, the Fair and Accurate Credit Transactions Act (FACTA), was passed to help combat a growing identity theft problem in the United States. By granting consumers free credit reports each year, the government provided a method for individuals to catch identity theft early and take steps to prevent further damage.
  
  

Obtaining Free Reports

• You can request your free report via mail by visiting the Federal Trade Commission (FTC) website at ftc.gov. Once there, download and print the Annual Credit Report Request form and mail it to the address listed on the top of the document. You also can request your free report by phone by calling 1-877-322- 8228.
  
  If you order your free report online, you must do so by visiting AnnualCreditReport.com. While many websites advertise free credit reports, these websites typically require you to supply your credit card information and sign up for products and services you may not want before letting you view your credit history. Only AnnualCreditReport.com is approved by the FTC for providing free online credit reports.
  
  Through AnnualCreditReport.com, you can obtain a free copy of your credit report once each year from each of the three major credit reporting bureaus -- Exquifax, Experian and TransUnion -- for a total of three reports annually.
  
  

Credit Scores

• Although federal law gives you free annual access to your credit reports, you do not have the right to a free annual credit score. If you are curious about your credit score, you can purchase a consumer credit score from one of the three credit bureaus or a FICO score directly from the Fair Isaac Corporation at MyFICO.com. The credit bureaus and the Fair Isaac Corporation calculate credit scores different ways -- with lenders favoring the FICO formula. Experian no longer sells -- or permits any other company to sell -- consumers FICO scores calculated using its reporting data.
  
  

Additional Reports

• If one annual credit report from each reporting agency isn't enough and you want to review your credit information more frequently, you can do so by signing up for credit monitoring. Each credit bureau provides this service. For a monthly fee, you can pull, review and print your credit reports online as often as you like.