The three national credit reporting agencies announced Monday they are offering free weekly credit reports to all Americans for the next year to help them protect their financial health during the COVID-19 pandemic.
The free reports are available via AnnualCreditReport.com effective immediately, according to a joint statement issued by the top executives of Experian, Equifax and TransUnion.
“These are unprecedented times facing the world. People are feeling scared and uncertain about the future. To help play our part and reduce some of that anxiety, we are uniting as an industry to help people know the facts about their financial data,” according to the statement released by CEOs Mark W. Begor of Equifax; Brian Cassin of Experian and Chris Cartwright of TransUnion. “We are making credit reports more accessible more often so people can better manage their finances and take necessary steps to protect their credit standing.”
Credit reports are a factual record of credit activity and payment history used by lenders, creditors, service providers and other businesses to extend financial opportunities and other offers to consumers.
According to the three reporting agencies, credit vigilance is critical during these uncertain times.
“Consumers are advised to review their credit reports frequently to understand the information that is being reported about their payment behavior. The single most important action for consumers who cannot pay their bills right now is to talk with their lenders to find out if they are offering any assistance.”
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