Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations.
The three national credit bureaus announced Sept. 23 they would extend free weekly access to credit reports through December 2023.
Consumers’ free access to each of their three credit bureau reports—Experian, Equifax and TransUnion—had been scheduled to sunset at the end of the year.
In a joint announcement, the CEOs of all three bureaus stated that their decision to extend the program is a response to the inflated cost of living and lingering impact of the pandemic.
“Credit reports play an important role in financial health, and providing weekly reports for consumers at no charge is another way that we can support financial education and stability for people across the U.S. at this critical time,” the announcement said.
Why Does Credit Access Matter?
Credit reports impact financial opportunities.
These reports don’t show a credit score, but provide a history of your financial activities, including payment history and balances for credit cards, mortgages and loans.
The information in your credit report can dictate whether you’re approved for loans and credit cards, how much you pay to borrow money, your car insurance premiums, your ability to find an apartment, whether you qualify for certain jobs and more.
But prior to April 2020—when the credit bureaus widened access to reports to…
