Family & Consumer Sciences > Family Resource Management > Consolidating Debt: Is it the Right Choice? Ways of consolidating credit card debt and closing out higher interest rate cards. Access to Free Credit Reports A recent amendment to the federal Fair Credit Reporting Act (FCRA requires each of the nationwide consumer reporting companies (Equifax, Experian and Trans Union) to provide you with a free copy of your credit report, at your request, once every 12 months.