Consumers can get free credit score, report as part of settlement

Consumers can find out their credit score and get a credit report at no charge under terms of a recently settled class action suit involving TransUnion, one of the country's three major credit reporting agencies.

Anyone who has ever had a credit report on file with TransUnion between Jan. 1, 1987, and May 28, 2008, is eligible to receive this benefit as part of getting free credit monitoring.

This means anyone who had a credit card account or loan open during this time is eligible. That could be more than 160 million Americans.

Under terms of the settlement, eligible consumers will be able to select either a free six-month credit monitoring service that TransUnion normally sells for $59.75 or a nine-month enhanced credit monitoring service that costs $115.50.

It is believed to be the country's largest class-action settlement in terms of the number of people that are covered, said Ken McEldowney, executive director of San Francisco-based Consumer Action.

Federal law makes it possible for consumers to obtain a copy of their credit report once a year at no charge from each of the country's three largest credit reporting agencies, Equifax, Experian and TransUnion. This is done by visiting www.annualcreditreport.com or calling (877) 322-8228. However, the law does not entitle consumers to a free credit score.