Three Major Credit Bureaus - Facts about the FACT Act

Facts about the FACT Act

The Fair and Accurate Credit Transactions (FACT) Act was signed into law in December 2003. This law incorporates new privacy regulations, identity theft protections dispute procedures and the distribution of free annual consumer disclosures. This means that you can request a free copy of your consumer disclosure every 12 months from TransUnion, Equifax and Experian.

What is the difference between a consumer disclosure and a credit report?

A "consumer disclosure" is all the information in your credit file that the credit reporting agencies maintain on you, including a record of everyone who has received information about you from the credit reporting agencies ("inquiries"). You are entitled to receive a copy of your disclosure from the agencies under Federal law. A "credit report" contains only some information from your credit file, including the information typically seen by a credit grantor or other party who requests a report on you. It does not contain all the information found in your disclosure (such as certain inquiries that only you can see).

How do I request my consumer disclosure?

You can request your FACT Act consumer disclosures from each of the credit reporting agencies online at annualcreditreport.com. You can also submit your request by phone or mail. This program started to roll out in December 2004 for consumers residing in the Western states.

When is my state eligible:

This is the full FACT Act roll-out schedule. US residents can request their free consumer disclosure reports every 12 months anytime after their state's roll-out date:

December 2004 — Alaska, Hawaii, Washington, Oregon, California, Idaho, Nevada, Montana, Wyoming, Utah, Arizona, Colorado and New Mexico.
March 2005 — North Dakota, South Dakota, Nebraska, Kansas, Minnesota, Iowa, Missouri, Wisconsin, Illinois, Michigan, Indiana and Ohio.
June 2005 — Texas, Oklahoma, Arkansas, Louisiana, Mississippi, Tennessee, Kentucky, Alabama, Georgia, Florida and South Carolina.
September 2005 — Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Pennsylvania, Maryland, Delaware, Washington D.C., West Virginia, Virginia and North Carolina.