If the state of your credit is a top concern while the coronavirus pandemic rages on, you aren’t alone. With millions at least temporarily unemployed, financial hardship and the credit implications that could follow are a worry for many. Luckily, the three credit reporting agencies (CRAs) – Experian, Equifax, TransUnion – are providing a resource to help.  Through April 2021 you can now request a free credit report weekly from each of the CRAs to stay on top of new reporting and dispute potential errors.  Here’s How it Works Free credit reports are not a new offering. In fact, according to federal law, consumers are entitled to one free credit report every 12 months from each of the three CRAs.

Before the $2 trillion stimulus package known as the CARES Act was passed March 27, 2020, lawmakers attempted to include legislation instructing credit reporting agencies (CRAs) to pause reporting negative credit information for four months.  Ultimately the legislation did not make it into the final bill. For now, creditors are pushing to take care of the issue without legislative intervention.  One way they plan to do that is by applying a natural disaster code to information reported to CRAs pertaining to borrowers financially impacted by the coronavirus pandemic.  There are a few important things to know about how natural disaster codes work:  It is up to the consumer to notify a lender they are impacted by this public health emergency.

When it comes to getting approved for a credit card or loan – and getting the most optimal terms available – your credit plays an integral part. There are two overarching components of your credit that potential lenders will be looking at: your credit score and credit report. 

You might be surprised to learn just how common credit report mistakes really are. Here’s a little help finding what to look for the next time you review your credit reports for mistakes.

Think you have just one credit score? Think again. Read here to find out just how many credit scores you have and why it’s fruitless to try to obtain a “perfect” score.

VantageScore® has released a new version of its score, VantageScore® 4.0, and it spells big changes in how credit profiles are evaluated. Here’s what those changes are and what they might mean for your credit.