I just got my credit report from Equifax and they had a blurb that I was entitled to my credit score under FACT, with an 800 number. Are consumers entitled to a FREE credit score under FACT or is there a charge for this? I tried looking online but didn't see anything. Also, I see that a lot of users are checking their credit scores pretty regularly. Can anyone recommend an inexpensive service to do this? Thanks much!
FinReg, just signed into law by Obama, included a section called the Fair Access to Credit Scores Act, which gives consumers the right to see their credit score for free if they are denied for something or even if they are approved but didnâ??t get the deal they asked for due to their score. So, if you applied for a new credit card and were denied because your credit score wasn't high enough, you will now be entitled to a free copy of both your credit report and the credit score they used. I'm assuming this is the case for you. Here's a brief blog post I recently wrote about this change if you're interested in more detail: Free FICO Scores Coming Soon! I didn't know this had taken full effect yet, so I'm frankly surprised to hear of an example already. It's only been about 3 weeks since the bill was signed into law.
