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With consumers severely impacted by the coronavirus pandemic, individuals now can examine their credit report more frequently than just once per year.
The three primary US national credit reporting agencies, Equifax, Experian and TransUnion, agreed that they will offer free weekly credit reports to Americans for the year to help consumers protect their financial profile during the COVID-19 crisis.
The free reports can be obtained from AnnualCreditReport.com.
Since consumer credit reports monitor credit activity and payment history used by lenders, creditors, service providers and other businesses to extend credit this will allow consumers to better understand the impact of the crisis on their future financial needs. Consumers are encouraged to review their credit reports frequently to understand the information that is being reported about their payment history.
The three credit reporting agencies also have worked with their U.S. trade association, Consumer Data Industry Association, to provide guidance to data furnishers on how to support consumer credit reporting during the pandemic.