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Consumers Should Take Advantage Of Free Credit Reports

El Centro, California (NAPSI) - The Consumer Financial Protection Bureau (CFPB) found that  many consumers are overwhelmed by the amount of information available to help  them learn more about the financial services marketplace.

At the same time,  the CFPB found one of the most popular resources offered is information about  credit reports.

The credit bureaus have found that information about credit reports is  popular as well. “Each year, there are over 25 million free credit  reports provided to consumers,” said Stuart K. Pratt, president and CEO  of the Consumer Data Industry Association. “And while that’s a  significant number, there are still a considerable number of consumers who  aren’t exercising their option to get their report. According to a  survey done by VantageScore and the Consumer Federation of America, 37  percent of consumers have never obtained a copy of their credit report,”   he added.

Consumers can get a free credit report from each of the three nationwide  credit bureaus, Equifax, Experian and Trans-Union, once a year by going to www.annualcreditreport.com. The  process is easy and enables consumers to have real-time access to their  credit reports.

“Many people get annual medical checkups. We encourage consumers to  be just as conscientious when it comes to their personal finances; get an  annual credit checkup by obtaining your free credit report,” added  Pratt.