Free Weekly Credit Reports May Stop by the End of the Year

Consumer Reports petitions to extend the program and offers advice on how to check your reports if the benefit goes away

By Lisa L. Gill
Investigative Reporter

Published September 14, 2022·Updated September 23, 2022

Update, Sept. 23, 2022: The three major credit bureaus reversed their decision and have extended free weekly credit reports through 2023.

Original article: For thousands of Americans, the COVID-19 pandemic ushered in an important benefit: free weekly credit reports, available at AnnualCreditReport.com from the three major credit bureaus, Equifax, Experian, and Transunion. The goal: to help people better manage financial uncertainty at a time when many were faced with job loss and health crises.

But that expanded access is set to expire at the end of the year, according to a joint press release issued by the three credit bureaus. And even now as the pandemic continues, Justin Hakes, a spokesperson for the Consumer Data Industry Association, told Consumer Reports there has been no further announcement about extending the free weekly reports.

Before the pandemic, the Fair Credit Reporting Act required that consumers be given free access to their credit report from each of the three major credit bureaus just once a year.

But because credit reports have long been plagued by high error rates—accounts that have been paid off but are still shown as open, or items reported as being in collections that aren’t yours—that once-a-year access was never enough, says Syed Ejaz, financial policy analyst at CR. “It meant consumers had limited opportunity to find and fix mistakes,” he says.

Those mistakes can be costly. For one thing, they can lower your overall credit score, the three-digit number based on information in your credit report. Having a low credit score can mean being denied access to credit or a loan, or having to pay more for it in the form of higher interest rates.

“Having free access to your credit report is the surest way to double-check their accuracy and make the needed corrections before trying to apply for a mortgage or other loan,” Ejaz says.

For that reason, CR is sending a letter today to all three credit bureaus, asking them to continue this free access, he says. And anyone who wants the free, weekly access to continue can sign CR’s petition, he adds.

“You should have the right to inspect [your credit report] for free at any time,” says Ed Mierzwinski, senior director of the federal consumer program at U.S. PIRG, a policy and research organization, and a CR board member.

That’s true even if you are not in the market for a new credit card or loan, says Chi Chi Wu, staff attorney at the National Consumer Law Center. She says credit reports and scores are used to evaluate people in many different circumstances. “People who need a new apartment, people looking for a job, people needing to insure their car, and home—their credit report comes into play in all of these situations,” she says.

Another reason that frequent access to credit reports—and the ability to correct mistakes that comes with that access—is important: “Your current creditors could cancel your credit cards or raise your interest rates based on a review of your report,” Mierzwinski says.

Credit Report Errors Climbing

Between 2018 and 2021, the number of complaints to the CFPB about credit report errors more than doubled. So far in 2022, it is the No. 1 consumer complaint to the Consumer Financial Protection Bureau, the federal agency that monitors the credit reporting industry.

Last year, CR asked a panel of nearly 6,000 volunteers to review their credit reports for mistakes. In almost a third of cases, participants found at least one error. And in a January 2021 CR nationally representative survey (PDF) of 2,223 adults, 12 percent of people who had ever checked their credit report said they found at least one mistake.

“Free credit reports help solve a market failure,” Mierzwinski says. “Consumers should have the right to self-audit and correct a product about them to make it more accurate.”

How to Get a Free Credit Report

For now, you can get a free credit report once a week by going to AnnualCreditReport.com or by calling 877-322-8228. That is the official site all three credit bureaus use to deliver consumer credit reports. Good to know: You may be asked a series of security questions about past or current financial transactions. If you have trouble answering those, follow the instructions provided by the site—usually you must call and answer other security questions, then you will receive your credit report in the mail.

If the free weekly credit reports come to an end, you can get seven free reports a year from Equifax. After a security breach in the 2000s, Equifax reached a settlement with the Federal Trade Commission that required it to provide six additional free credit reports to consumers beyond the one required each year, Mierzwinski says.

Use those seven by requesting one every other month or so, then access the remaining single free reports from Experian and TransUnion as needed, Mierzwinski says. Although nine reports in a year is far fewer than the 52 you’re currently entitled to, having those would still show mistakes or other problems with your report that could affect your credit score.

Find a Mistake in a Credit Report? Get It Fixed.

Once you get your credit reports, scan them for mistakes. If you find one, take these steps.

File a dispute with each credit bureau. Experian, Equifax, and TransUnion don’t communicate with one another, so you’ll have to file separately. Go straight to the credit bureau, instead of a lender or bank, so that you can rely on protections that govern how quickly the dispute must be handled and a legal pathway to sue if needed.

Provide evidence. Include any relevant account statements or payment records, along with your dispute notice. Without them, credit bureaus can dismiss claims that don’t come with enough backup information as “frivolous.” And worse, resubmitted claims can be denied if they’re considered similar to previous ones.

Create a paper trail. Tempting as it may be, don’t file the dispute online, because that doesn’t provide a written record that you can rely on later if needed. And avoid the standardized online forms provided by the credit bureaus, which might oversimplify your dispute by requiring you to choose among predetermined check boxes. Further, by submitting your dispute online, you could unwittingly waive your right to sue as an individual or in a class action. Instead, write a letter explaining the problem. Use this sample letter from the CFPB (PDF).

Send all materials by certified mail. This includes a paper copy of the letter and copies of any financial materials needed to make your case. Keep copies for yourself. This makes it easier to confirm that the credit bureaus follow the required timelines. Credit bureaus have five days to get the disputed information to the financial institution or debt collector that supplied the information. If that company doesn’t investigate and respond to the dispute in time, the credit bureaus are legally required to delete the information.

If that doesn’t work, file a complaint with the CFPB. Do this either on the CFPB’s website or by calling 855-411-2372. Be prepared with all your materials. The CFPB will investigate your situation and says most companies respond within 15 days.

If you lose your dispute or the problem is severe, consider working with an experienced attorney. The Fair Credit Reporting Act gives consumers the right to sue a credit bureau or financial institution over credit report errors. If a company is found in violation, your legal fees might be automatically covered. Find an attorney through the National Association of Consumer Advocates at consumeradvocates.org.

Lisa L. Gill

Lisa L. Gill is an award-winning investigative reporter. She has been at Consumer Reports since 2008, covering health and food safety—heavy metals in the food supply and foodborne illness—plus healthcare and prescription drug costs, medical debt, and credit scores. Lisa also testified before Congress and the Food and Drug Administration about her work on drug costs and drug safety. She lives in a DIY tiny home, where she gardens during the day and stargazes the Milky Way at night.