A free credit report that you can get under the Fair Credit Reporting Act (FCRA) and the Fair and Accurate Credit Transactions (FACT) act are two different free credit reports. One doesn’t preempt or nullify the other.
The Fair and Accurate Credit Transactions (FACT) act gives every consumer the rights to access the free credit report once every 12 months. The Fair and Accurate Credit Transactions (FACT) Act Amended the Fair Credit Reporting (FCRA) Act to allow the consumer to get a free copy of his credit report from each of the National credit bureaus. This free credit report is available at www.annualcreditreport.com.
However, the Fair Credit Reporting Act ( FCRA) also allows you to get a free credit report beyond and after your free FACT credit report. This federal law (FCRA) governs credit reporting in the United States of America and allows you to get a separate free credit report under the following circumstances
- If you have had an adverse action taken against you such as denial of a credit application based on the information present on your credit report. You can only get the credit report from the company that provided the credit report used by the lender in making his decision. The lender should tell you which information influenced his lending decision and also provide you with the web link where you can access the free credit report from the credit bureau in question. If he does not, you can always visit the main website of the credit bureau. You can find the information there with ease or you can speak to a customer care representative on a toll free number.
- If you were of fraud or an identity theft victim and have reason to believe that credit fraud has been committed under your name and identity.
- If you are unemployed and seeking employment.
- If you are on welfare assistance.
Some states also allow the residents to get more than one free report every year in addition to the free report under the fair and accurate credit transactions act. In order to read more about free credit reports and how many are available to you read more on Getting Your Free Credit Reports From 3 Credit Bureaus
So even if you have accessed one free credit report does not mean that you cannot get another or another 2 free credit reports from the credit bureau. After that you will most likely to be required to pay a fee to access your credit report which is generally around $10.
All the free credit reports except the annual free credit report of the FACT act must be requested directly from the credit reporting companies.