Equifax Now Offers Free Credit Reports and Scores through Core Credit

Today, Equifax launched a new program that allows consumers to access their credit scores and credit reports for free each month. Core Credit is now part of the myEquifax online portal, and offers monthly access to Equifax credit reports and VantageScore® 3.0 credit scores.

VantageScore is a credit scoring model that Equifax, Experian and TransUnion developed in 2006. This model has a slightly different scoring structure than FICO, but it maintains the same 300 to 850 score range. Many lenders use VantageScore to determine if applicants qualify for their products.

Accessing Core Credit does not cost any money. No credit card is required to sign up. Consumers 18 years or older can create an account through MyEquifax.com and access their credit information.

Additionally, myEquifax can be used to file a credit report dispute or manage security freezes on accounts. Equifax provides educational information consumers can use to improve their credit scores and strengthen their credit portfolios.

This development may be a byproduct of the recent Equifax data breach settlement. In that, Equifax promised all U.S. consumers access to six free credit reports per year for the next seven years. They also agreed to pay up to $600 million in reimbursements for credit monitoring services and other costs consumers endured after the breach, plus $100 million in civil penalty fees.