Many eligible for free access to credit reports, scores

*Nine months of free credit file monitoring services if you agree not to file an individual lawsuit against TransUnion seeking damages. In addition to monitoring - where the bureau alerts you by e-mail within 24 hours of any significant change in your credit data - you also can lock your entire file so that lenders, insurance companies and others cannot access your TransUnion report without your permission.

On top of this, you can receive "unlimited daily access" to your credit report and TransUnion credit score, plus a "suite of insurance scores and a mortgage simulator service" to help you qualify for a better home loan rate. TransUnion estimates the current retail value of this option at $115.50.

*Six months of free credit monitoring, credit lock privileges and unlimited access to your credit report and score. This option, valued at $59.75, allows you to receive a possible cash payment out of the $75 million fund if any money is left over after paying lawyers' fees, notification costs and priority payouts to named plaintiffs.

*Even if you opt to file an individual lawsuit against the company, you are still eligible to receive six months of free credit monitoring.

One downside for mortgage applicants: The credit score you receive from the settlement agreement will not be a FICO score - which is the dominant score used by mortgage lenders. It will be TransUnion's proprietary score, which may be roughly comparable to your FICO score but sometimes can differ substantially.

Think of this remarkable settlement this way: It's free and it's educational at the very least. If you're serious about getting a mortgage in the months ahead, this is a rare slam-dunk.

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