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Utah lawmakers call for free credit score, which can help when assessing credit card debt standing
By Peggy Stillwell on Feb 27th, 2010
One thing that can help a consumer who is trying to achieve a better financial standing is their credit report.
However, getting a copy of their credit score - the number used by many to determine whether to issue loans or cards - maybe even better. Unlike credit reports, which consumers can get for free - obtaining a credit score requires that people pay up.
A recent report from the Salt Lake Tribune noted that state legislators passed a resolution encouraging lawmakers on Capitol Hill to create legislation that would allow consumers access to their FICO credit score once a year.
"The idea is that consumers could get their free score on AnnualCreditReport.com, the same site where consumers already can go to order free credit reports," the paper said.
The Federal Trade Commission, under direction from the Credit Card Accountability, Responsibility and Disclosure Act, recently passed a rule that would require companies that advertise offering a free credit report disclose the fact that consumers can get a copy at the federally sponsored website.
Getting a credit report can alert consumers to a variety of problems, including credit card debt fraud. By monitoring their reports, consumers can make sure they get better rates on things like mortgages.
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