How often can consumers get a free credit report?

Consumers are entitled to receive a free credit report from each of the three major credit reporting agencies—Equifax, Experian, and TransUnion—once per year. This provision is established under the Fair Credit Reporting Act (FCRA) to promote transparency and allow consumers to manage their credit profiles effectively.

Having the ability to access these reports annually helps individuals monitor their credit for errors, detect identity theft, and understand their credit standing, which is crucial for making informed financial decisions. While some services may offer more frequent access to credit scores or credit monitoring, the legally mandated free credit report provision is specifically once per year. This yearly access provides a suitable balance between consumer needs and the resources required by the credit reporting agencies to maintain the integrity of the information reported.