Factact Free Disclosure

Q: I just pulled my TransUnion credit report and under the inquiries section it says “FACTACT FREE DISCLOSURE”. What is it and is it bad to have on my report?

A: It seems that every time I check my credit report I always see an inquiry or two that I did not authorize, but fortunately for me, those unknowns have almost always have been soft pulls. Here’s what you need to know about your Factact Free Disclosure inquiry that is showing up on your TransUnion report…

What is Factact Free Disclosure?
Last decade (in 2003 to be exact) the Fair and Accurate Credit Transactions Act was passed by President Bush. This is the law that allows you to obtain a free copy of your credit report from the 3 major credit bureaus once per year; Experian, Equifax, and TransUnion. The passage of this law was very important for all of us, because before that they would charge us just to see what was on our credit reports… that’s completely unfair, we shouldn’t be charged just for ensuring our reports are accurate!

Each time you check your credit report under the FACT Act, an credit inquiry has to be made. Fortunately, the credit inquiry is a soft pull that does not affect your credit score in anyway. Each credit bureau will then list that inquiry under the soft inquires section and will call it a Fact Act Disclosure or other various (but similar) sounding names. TransUnion has been known to list theirs as the “Factact Free Disclosure” on reports.

So what you see listed probably came from the last annual credit report you obtained for free. Or if you made another inquiry under the FACT Act (like if you were the victim of identity theft and previously pulled your report) then it may be showing up for that reason.

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I have had the same thing happen to me. So, not only do you need to put a fraud alert on your credit reports, but also, if you were the victim of identity theft, put a freeze on those accounts. They can no longer use your info if you have a freeze. I am sorry for all of you. I have been trying to sort this all our for 2 months. It is misery.

Credit Correcting Tip: When all else fails, call their corporate offices. I have found the people at these locations are most helpful in correcting errors that, for some reason, the normal dispute process does not. You can obtain this information by searching for “Transunion Corporate Offices.” just as an example.

How would one know if someone pulled my credit without my knowledge? Also, isn’t credit checked by anyone paying for a background check?

It seems I have been the victim of identity theft. When I tried to get a free credit report, I first tried Equifax, only to get the following message:

Our records indicate that you received your annual free Equifax Credit Report on 11/12/2012.

I then tried Transunion and Experian, and sure enough I got the same message. I haven’t gotten a free credit report in a few years so it looks like whoever stole my identity actually pulled my credit reports to check my credit worthiness! I actually had to paid for a Transunion report and that’s when I noticed the Factact Free Disclosure listed under Account Review Inquiries. Has anybody ever heard of this?

Yes, this also happened to me. If you file a temporary fraud alert with the credit agency, you should be able to go in and view the report and correct it. I recommend also doing that, as that will ensure you are notified if someone attempts to open an account using your information. This has happened to me twice already.

Hey Mark and Alan,
I have had similar circumstances. Were you able to find out where the credit report that was pulled fraudulently was mailed?