Posts Tagged Real Deal
Free Credit Reports – The Real Deal
Marilyn Katz asked:
It seems like every time I turn on the TV, I see a baby faced rocker singing about how he had some really bad luck because he had not visited a certain credit reporting website. The tune is quite catchy. And while we may all be able to sympathize with the quirky situations, we may also want to “get our knowledge on” before signing up for this service.
Are free credit services they really free?
If a major company is spending a lot of money to promote this website, how can it be free? Well, actually you do need to give them a credit card number along with your other registration information. As a convenience to members, you also get enrolled in a service that monitors your credit. But hold on. This additional service is not free. If a member does not cancel within a short period of time, they will see monthly credit card charges for an online credit monitor.
Did you sign up for that?
The company does say they publish this information. But if we can judge by 11,000 Better Business Bureau complaints, the notice may not have been plain enough. Now, after so many complaints, the company says they are changing the way they are publishing this information.
Those of us who have been online for awhile know that most free offers come with some sort of catch. In this case, the service really was free. It was also just really easy to miss the fact that the service came with automatic enrollment in another service with a monthly charge!
US Federal Law Gives You Free Credit Reports
You can get a free credit report with no catches though. Look at this website:
www.annualcreditreport.com
It is run by the three major credit reporting services: Equifax, Experian and TransUnion.
This website is run by the three major agencies in order to be compliant with federal law. This law is the Fair and Accurate Credit Transactions Act (FACT).
Consumers are urged to review their credit reports periodically. Many consumers find simple errors, that are easy to correct. These errors can cost a lot of money in the long run.
Why Check Your Own Credit?
Many consumers do not even know they can get a free report. Even if they do know, a lot of people never bother to do it. They do not understand why it is that important.
You know that people with better credit scores pay less and get better terms when they do borrow money. This can also impact other areas of your life. Some employers ask for credit reports when they screen job applicants. Even insurance companies are starting to look at them too. Some insurance companies will not offer their best rates for people with recent credit issues.
Many people find simple errors when they check their credit. I, myself, have found duplicate entries. This made it look like I had borrowed a lot more money than I had. It was very simple to dispute the errors and get them resolved. You can find instructions on the website.
Since this information is so important, and since it can affect your life, there is no reason to be running blind.
Rosa
It seems like every time I turn on the TV, I see a baby faced rocker singing about how he had some really bad luck because he had not visited a certain credit reporting website. The tune is quite catchy. And while we may all be able to sympathize with the quirky situations, we may also want to “get our knowledge on” before signing up for this service.
Are free credit services they really free?
If a major company is spending a lot of money to promote this website, how can it be free? Well, actually you do need to give them a credit card number along with your other registration information. As a convenience to members, you also get enrolled in a service that monitors your credit. But hold on. This additional service is not free. If a member does not cancel within a short period of time, they will see monthly credit card charges for an online credit monitor.
Did you sign up for that?
The company does say they publish this information. But if we can judge by 11,000 Better Business Bureau complaints, the notice may not have been plain enough. Now, after so many complaints, the company says they are changing the way they are publishing this information.
Those of us who have been online for awhile know that most free offers come with some sort of catch. In this case, the service really was free. It was also just really easy to miss the fact that the service came with automatic enrollment in another service with a monthly charge!
US Federal Law Gives You Free Credit Reports
You can get a free credit report with no catches though. Look at this website:
www.annualcreditreport.com
It is run by the three major credit reporting services: Equifax, Experian and TransUnion.
This website is run by the three major agencies in order to be compliant with federal law. This law is the Fair and Accurate Credit Transactions Act (FACT).
Consumers are urged to review their credit reports periodically. Many consumers find simple errors, that are easy to correct. These errors can cost a lot of money in the long run.
Why Check Your Own Credit?
Many consumers do not even know they can get a free report. Even if they do know, a lot of people never bother to do it. They do not understand why it is that important.
You know that people with better credit scores pay less and get better terms when they do borrow money. This can also impact other areas of your life. Some employers ask for credit reports when they screen job applicants. Even insurance companies are starting to look at them too. Some insurance companies will not offer their best rates for people with recent credit issues.
Many people find simple errors when they check their credit. I, myself, have found duplicate entries. This made it look like I had borrowed a lot more money than I had. It was very simple to dispute the errors and get them resolved. You can find instructions on the website.
Since this information is so important, and since it can affect your life, there is no reason to be running blind.
Rosa
Where Can You Really Get a Copy of Your Free Credit Reports?
Posted by admin in Personal Finance on July 11, 2009
Joe Maruca asked:
The offers are everywhere! Commercials with catchy jingles, free offers, scare tactics about identity theft and poor credit, it’s hard to miss them. So what’s the real deal? Is everyone allowed to give away free copies of your credit report?
There are many websites that offer a free copy of your credit report but most of them will only do it if you sign up for other services like “credit monitoring.” The only place recommended by the Federal Trade Commission is “annualcreditreport” dot “com” which is set up by the three credit reporting agencies. You can also call them at 1-877-322-8228.
If you’ve already gotten your free credit report for the year, you can get an additional copy of your credit report if you have been denied credit (by a credit card company, loan, etc.) within 60 days. You can also purchase a copy if you need to for about $10. For More information and FAQ, visit the Federal Trade Commission’s website at “ftc” dot “gov”
Why is it a good idea to check my credit? It’s a good idea to review your credit report and score on a regular bases for several very important reasons including: Identity theft, inaccuracies, unauthorized activity and to see who has been checking your credit aside from you. The information in your credit report can affect your ability to secure a loan (car loan, home loan, student loan and more) and can also determine what type of interest rate you receive from your credit card company.
So remember, you can receive a free copy of your credit report without signing up for any additional services and it’s a good idea to review the information in your credit report on a regular bases.
To learn more about good personal finance practices visit www.creditcardinfohub.com where you’ll find this and other articles including 5 Easy Steps to Financial, Credit and Debt Relief.
Sharon
The offers are everywhere! Commercials with catchy jingles, free offers, scare tactics about identity theft and poor credit, it’s hard to miss them. So what’s the real deal? Is everyone allowed to give away free copies of your credit report?
There are many websites that offer a free copy of your credit report but most of them will only do it if you sign up for other services like “credit monitoring.” The only place recommended by the Federal Trade Commission is “annualcreditreport” dot “com” which is set up by the three credit reporting agencies. You can also call them at 1-877-322-8228.
If you’ve already gotten your free credit report for the year, you can get an additional copy of your credit report if you have been denied credit (by a credit card company, loan, etc.) within 60 days. You can also purchase a copy if you need to for about $10. For More information and FAQ, visit the Federal Trade Commission’s website at “ftc” dot “gov”
Why is it a good idea to check my credit? It’s a good idea to review your credit report and score on a regular bases for several very important reasons including: Identity theft, inaccuracies, unauthorized activity and to see who has been checking your credit aside from you. The information in your credit report can affect your ability to secure a loan (car loan, home loan, student loan and more) and can also determine what type of interest rate you receive from your credit card company.
So remember, you can receive a free copy of your credit report without signing up for any additional services and it’s a good idea to review the information in your credit report on a regular bases.
To learn more about good personal finance practices visit www.creditcardinfohub.com where you’ll find this and other articles including 5 Easy Steps to Financial, Credit and Debt Relief.
Sharon