Free Annual Credit Score – Why Can’t I Get One?
Upon request, every consumer is entitled to a free annual credit scores each year. And this isn’t just something that the credit reporting companies do out of the goodness of their hearts, consumers are entitled to this by federal law – and for good reason. After all, many entities pull consumer credit reports as part of a background check, so taking the initiative to get your credit report on an annual basis gives consumers a better idea of where they stand big picture-wise and allows them to see if there are
inaccuracies on their report. However, while consumers are entitled to get credit reports on an annual basis, it may surprise you to learn that there’s no federal law in place where consumers can receive complimentary annual credit scores. This isn’t from a lack of trying though – lawmakers introduced legislation in both 2009 and 2013 that would federally mandate this, but both bills stalled before they could be signed into effect. It’s important to note that it’s not difficult for consumers to attain their credit scores free of charge if they know where to look – and at a frequency of much more than just once per year – but it is somewhat odd considering the difference between credit reports and credit scores in terms of being federally mandated.