The views expressed in Economy Matters are not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System.

Editor's note: Throughout Economy Matters, "Southeast" refers to the six states that, in whole or in part, make up the Sixth Federal Reserve District: Alabama, Florida, Georgia, Louisiana, Mississippi, and Tennessee.

Financial Tips from the Atlanta Fed: Credit Reports

October 1, 2020

photo illustration of a pile of colored question mark-shaped blocks

Thursday, October 15 is Get Smart about Credit Day. However, every day can be a good one to learn how to make a positive impact on your financial stability. This month, we share resources for accessing and using credit reports to help navigate the current environment.

  • Through April 2021, you can access your credit reports weekly, rather than annually, at no charge. Check your credit report using AnnualCreditReport.com, the only source for free credit reports authorized by federal law.
  • Pulling your own credit report is considered a soft inquiry and will not affect your credit score. It is important to check your credit report to ensure the accuracy of your information and help guard against identity theft.
  • When reviewing your credit report, check for inaccuracies, especially in personal information, account details, and balance information. If you find any errors, report them to the credit reporting agency that provided the report.
  • A positive credit history is critical to financial stability. Strategies for maintaining a positive credit history include paying bills on time and reducing your debt load. These and other factors are critical since they may determine your interest rates, which could affect the amount of interest you pay.