Your right to one (1) free credit report per year is mandated under the Fair and Accurate Credit Transaction Act of 2003. Unlike the credit report, information about your credit score is not free (but it is important). Your score can affect many things, including your ability to get loans, your insurance premiums, and even your employment. It's a good idea to pay the modest additional fee to get your score and ensure you have maintained a good rating. You can use your credit report to correct errors, identify fraud, and to safeguard against the threat of identity theft.