FCRA Consumer Rights Summary

The Fair Credit Reporting Act (FCRA) is the foundation of your credit rights. It governs who can access your report, what can be reported and for how long, and how you can challenge inaccurate information.

The Right to a Free Annual Credit Report

You're entitled to one free credit report from each of the three major bureaus (Equifax, Experian, TransUnion) per 12-month period from AnnualCreditReport.com. During COVID, weekly reports became available and that policy has been maintained. This is separate from free reports offered after adverse action.

The Right to Know Who Accessed Your Report

Your credit report includes an "inquiries" section listing everyone who has accessed your file in the past 24 months (hard inquiries) and 12 months (soft inquiries). You have the right to know who has pulled your credit. If you see an inquiry you didn't authorize, you can dispute it.

The Right to Accurate Information

Bureaus and furnishers must maintain and report accurate information. If they knowingly maintain inaccurate data after being notified, that's a FCRA violation. You can dispute any inaccuracy for free, and the bureau must investigate within 30 days.

Limits on How Long Negative Information Can Stay

• Most negative items: 7 years from date of first delinquency
• Chapter 7 bankruptcy: 10 years
• Chapter 13 bankruptcy: 7 years
• Hard inquiries: 2 years

After these periods, bureaus must delete the information automatically. If an item remains past its legal expiration date, that's a FCRA violation — dispute it for immediate removal.

The Right to Place a Security Freeze

You can freeze your credit report at each bureau for free, preventing any new credit from being opened in your name. You can unfreeze at any time, also for free. This is the most effective protection against new-account identity theft.

The Right to Place a Fraud Alert

A fraud alert notifies lenders to take extra verification steps before opening credit in your name. A 1-year initial alert is available to anyone. A 7-year extended alert is available to confirmed identity theft victims (requires an FTC Identity Theft Report).

Employment and FCRA

Employers must get your written consent before pulling your credit report for employment purposes. If they take adverse action (don't hire you, don't promote you) based on your credit report, they must tell you and provide a copy of the report and a summary of your rights before taking the action.

Remedies for FCRA Violations

Willful violations allow for statutory damages of $100–$1,000 per violation, actual damages, punitive damages, and attorney's fees. Negligent violations allow for actual damages and attorney's fees. Consumer attorneys who specialize in FCRA often take cases on contingency because attorney fees are fully recoverable.

See also: FCRA Dispute Rights Detail | FDCPA Rights for Collectors