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credit reportConsumer Credit Report Fee Limit up $ .50 in 2009

The highest that a national credit reporting agency can charge next year on a consumer credit report will be $11, up from this year’s limit of $10.50, and it only applies after the consumer receives one free report from the agency.

The limit applies to credit reports provided to consumers by Equifax, TransUnion and Experian. The Fair Credit Report Act provides that each agency provide the consumer one free report every 12 months if asked.

Additional reports during the period generally can carry a fee, except in certain circumstances. For example, if a firm or lender takes an adverse action against them - such as denying an application of credit, insurance or employment - the consumer can ask for and receive a free report. The consumer must make that request within 60 days after receiving notice of the action.

Consumers can also receive one free report a year if they are unemployed and plan to look for a job within 60 days; if they are on welfare; or if their report is inaccurate because of fraud.

Consumers can also receive one free report a year if they are unemployed and plan to look for a job within 60 days; if they are on welfare; or if their report is inaccurate because of fraud.

 
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