Posted on: 08th May, 2010 03:06 am
Don't get lured by the catchy advertisements to get a free credit report. According to the new CARD Act of 2009, companies who are advertising about free credit reports are required to disclose that what they are marketing isn't the free credit report which you're supposed to receive by law.
The Federal Trade Commission (FTC) provides consumers with one free credit report every year from the three credit reporting agencies - Equifax, Experian and Transunion. This free credit report is accessible from AnnualCreditReport.com. The other websites such as FreeScore.com, CreditReport.com and FreeCreditReport.com which advertise about giving free credit report actually have certain strings attached with them.
These websites are not part of the government initiative to offer the consumers with free credit report. Once a consumer signs up for their free service, these websites actually start charging consumers for unwanted services.
The Federal Trade Commission (FTC) provides consumers with one free credit report every year from the three credit reporting agencies - Equifax, Experian and Transunion. This free credit report is accessible from AnnualCreditReport.com. The other websites such as FreeScore.com, CreditReport.com and FreeCreditReport.com which advertise about giving free credit report actually have certain strings attached with them.
These websites are not part of the government initiative to offer the consumers with free credit report. Once a consumer signs up for their free service, these websites actually start charging consumers for unwanted services.
Hi,
Yes, this is true. Anyhow, it is always better to get credit report from annualcreditreport.com than getting it from any other sites advertising for free reports.
Thanks,
Sandra
Yes, this is true. Anyhow, it is always better to get credit report from annualcreditreport.com than getting it from any other sites advertising for free reports.
Thanks,
Sandra
This is indeed a good step. It should be noted that the Federal Trade Commission received around 1,000 complaints from consumers who signed up for free credit reports at various websites. The complaints were mainly regarding the additional service charges that they had to pay for credit monitoring. The alarming fact was that the consumers came to know about this charges when it showed up on their credit card bills.
These companies charge around $15 a month for credit monitoring services. If these charges and fees go unnoticed, then it would add up to a huge amount. With this new rule, the consumers will at least know whether or not they would be charged for the credit monitoring services.
These companies charge around $15 a month for credit monitoring services. If these charges and fees go unnoticed, then it would add up to a huge amount. With this new rule, the consumers will at least know whether or not they would be charged for the credit monitoring services.
Hi,
Annualcreditreport.com is the only site that allows free credit report once a year. Thus, it is safe to pull the credit report from this site, rather than allowing other companies to add up to the existing debt. Moreover, most of the other sites won't be able to give the FICO score. To get the authentic FICO score it is better to get the credit report from www.annualcreditreport.com .
Thanks,
Sandra
Annualcreditreport.com is the only site that allows free credit report once a year. Thus, it is safe to pull the credit report from this site, rather than allowing other companies to add up to the existing debt. Moreover, most of the other sites won't be able to give the FICO score. To get the authentic FICO score it is better to get the credit report from www.annualcreditreport.com .
Thanks,
Sandra
Federal Trade Commission has brought new laws on free credit report, so that consumers may not have to face unwanted trouble while pulling their credit report. According to the Commission from 2nd April, the advertisings on free credit report will have to be more clear, so that consumers may not get confused about the free offers.
The companies charging fees on credit report will have to mention that from the beginning, and on each page, so that the consumers may not confuse it as a free offer.
Thanks,
Lydia
The companies charging fees on credit report will have to mention that from the beginning, and on each page, so that the consumers may not confuse it as a free offer.
Thanks,
Lydia
@Sandrawilli43 - Sorry, but you can't get your FICO scores through annualcreditreport.com. You can only get your free credit reports. If you want to make sure you get your true FICO scores, it's best to go directly through myFico.com.
Now, let's just wait to see if legislation passes that gives consumers free access to their credit scores this year too. Not FAKOs from the credit bureaus, but your actual FICO scores. What do you think - will the day actually come when consumers have the right to both a free credit report and FICO score?
Now, let's just wait to see if legislation passes that gives consumers free access to their credit scores this year too. Not FAKOs from the credit bureaus, but your actual FICO scores. What do you think - will the day actually come when consumers have the right to both a free credit report and FICO score?