Normally all consumers are entitled to a free credit report from each of the three major reporting agencies once a year. This was provided by the Fair Credit Reporting Act (FCRA) which required Equifax, Experian, and TransUnion to provide you with a free copy of your credit report, at your request, once every 12 months. And this is enforced by the Federal Trade Commission (FTC), the nation’s consumer protection agency.

Now, through April 2021, all three reporting agencies will be offering one free report weekly so that you can more closely monitor your credit. You can got to AnnualCreditReport.com to request your copies.

The credit agencies cull information from all your lenders and determine your credit worthiness based on how much you earn, how much you owe, and how much credit you have available to you. They also take into account your payment history, whether you have been chronically late, or always on time paying your creditors, medical bills, and sometimes even rent. It is important – especially if you are going to be requesting a new loan (credit card, mortgage, car loan, etc.) in the near future – to make sure all of the information on your report is up to date and accurate.