On March 1, Experian Inc. will end its five-year policy of giving a free annual credit report to any consumer requesting one.
Offering the credit reports at no cost, "has been a public service provided by Experian at considerable expense . . . and has become a competitive disadvantage," said Experian chief executive D. Van Skilling.
Experian, formerly part of TRW Inc., is the only credit bureau that does not charge consumers a fee for requesting a credit report once a year. Trans Union Corp. and Equifax Inc. both charge fees, typically $8.
Experian said it, too, will charge about $8 in most states for its reports. Depending on state legislation, the fees may vary.
Since it began the program in April 1992, Experian has distributed about five million complimentary reports.