Target: U.S. Senate
Goal: Pass the Fair Access to Credit Scores Act to ensure free access to credit scores
Financial responsibility and planning is important for anyone’s financial security. Getting free access to credit scores saves people money and makes it easier for them to plan for their financial future. Credit scores can determine what interest rate you pay for loans and credit cards, how big a deposit you have to put down for an apartment – even how much you are charged for car insurance. The Consumers Union, a campaign that supports reforms in the financial marketplace, has already managed to demand free credit reports in a bill that got passed in 2003. Now help them get a new bill passed to ensure free credit scores.
Credit scores are important information, and consumers should have the right to know it for free. People should also be given the same credit scores lenders get so they know exactly what they are basing their decisions about the consumer. It has been estimated that consumers have spent a total of about $250 million in recent years to get their credit scores. A new federal report has also found that one out of five consumers paid for scores that were meaningfully different than the scores given to lenders.
A credit score is a critical tool for people to have when making decisions about their finances. Lenders and banks use it to determine if they will lend people money and at what interest rate. It also determines whether one can get a credit card and at what size limit or even the amount one might be charged for car insurance. By having a reliable score free-of-charge with their credit report, people can make the right choices to improve their score and build a better financial future for themselves and their family. Sign this petition to urge the U.S. Senate to pass the Fair Access to Credit Scores Act of 2013 to help people secure a better financial future.
Dear U.S. Senate Members,
As a financially active constituent, it is important for me to be able to follow my finances and plan for my future. Please pass the Fair Access to Credit Scores Act of 2013 because this bill will give me access to my credit score free-of-charge along my annual credit report. It will make sure I see the same scores lenders use to decide whether I get credit, and at what interest rate.
Currently consumers may end up paying fees for questionable credit reports by handing over their credit card information for “trial offers.” Access to a free credit score will make it easier for consumers to plan for their financial future by accessing the same credit score that lenders base their decisions on. It is necessary to pass this bill to give everyone a chance to plan for their future.
[Your Name here]
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