How often can consumers request free annual credit reports?

Consumers are entitled to request a free annual credit report from each of the three major credit reporting agencies—Equifax, Experian, and TransUnion—once a year as mandated by the Fair Credit Reporting Act (FCRA). This provision was established to help consumers monitor their credit and identify any inaccuracies or fraudulent activity that could impact their credit score.

The key purpose behind allowing one free report annually is to promote transparency and empower consumers to take control of their financial health. By doing so, consumers can review their credit history without incurring a cost, ensuring they have the opportunity to correct any errors that may affect their creditworthiness.

Other choices suggest a frequency that does not comply with the established guidelines of the FCRA, which clearly specifies the allowance for one free report annually.