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Congresswoman Joyce Beatty

Representing the 3rd District of Ohio

Beatty Bill to Provide Free Credit Scores

May 16, 2019
Press Release

WASHINGTON, D.C. – Yesterday, U.S. Congresswoman Joyce Beatty (OH-03) reintroduced the Free Credit Score Act of 2019H.R. 2753. If enacted, the bill would provide consumers free annual credit scores with their annual credit report, along with an explanation of how credit scores are calculated.

“Our credit score affects nearly every aspect of our lives,” Beatty said. “From getting a home or auto loan, to applying for a credit card or a line of credit, and even during a job search, an individual’s credit score often makes all the difference in the world. Yet, many Americans do not know their credit score—this has to change.” Beatty continued, “My straightforward bill will give consumers the opportunity to receive and review their credit score for free, on an annual basis, empowering them to make better, more informed financial decisions.”

Under current law, the Fair Credit Reporting Act gives consumers the right to request their credit report on an annual basis from the three nationwide consumer credit reporting agencies free-of-charge. Included in this report, is an organized list of information in an individual’s credit file. Despite providing consumers with all of the information that makes up their credit score, free annual reports do not actually include the consumer’s credit score or an explanation on how the information in their report is used to calculate that score.

The Free Credit Score Act of 2019 has been referred to the House Financial Services Committee and is awaiting further consideration.

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