The Free Credit Report Scam

The Free Credit Report Scam

Every consumer in America is entitled to a free credit report once a year by law since September 2005. But since that law was passed, there has been nothing but confusion.

The websites that say they offer this so-called free credit report ask us to give them our credit card information. Does this sound like a free credit report to you?

You may have even given your credit card number to these companies to sign up for a thirty-day trial period for a credit service that has little to do with getting your free credit report.

Honestly, you can cancel this service after thirty days. But how many people do you think forget and end up getting hit with monthly or even annual credit card fees?

In fact, these companies are counting on you to forget about the thirty-day trial and charge that fee to your credit card. But if the law says you get a free report, what’s the deal?

Many people are confused about these free credit reports because of the way some companies market the free credit report. We hope this information clears some things up for you.

For people who just want the bottom line, a free credit report is available at and it is the only official site that helps users get their annual free credit report.

This site’s security protocols are excellent with physical and technological security and encryption. This is important for identity theft purposes because the information on your credit report should only be visible to your eyes.

So if this site is easily accessible and anyone can get a free credit report once a year, what’s the catch? Here’s the catch: the credit report you’re getting from no credit scores.

Now you might be asking yourself, “So what’s the point of getting that free credit report without a credit score?” There are several good reasons why you might want to look at your credit report even without a credit score.

Did you know that more than forty percent of all credit reports have errors? If you spot these mistakes, you can clear them up before they affect your credit score. If you contact a credit bureau about an error, they have thirty days by law to clear or fix it.

By monitoring and reviewing your credit report, you can ensure that you are not a victim of identity theft. If someone takes over your accounts and runs up thousands of dollars in debt, they can destroy your credit score in a matter of hours.

These are just a few good reasons why you want to get your free credit report once a year and check it to make sure everything looks right. You can get your free credit report online at either by phone or mail.

So where do you get your credit score from? Here comes the confusion and here is the answer. The law passed by Congress says nothing about a credit score, just one free credit report per year per consumer.

You have to pay for a service to get your credit score, and some companies confuse people with the way they advertise this. They offer you a free credit report and score and many users believe that this is their annual free credit report.

But if you have to sign up for a credit service they offer for a 30-day trial, does that sound free? What these companies rely on is for you to forget about the 30-day trial period and charge your credit card after that trial period is over.

It’s written in fine print, but how many people actually read it. Here’s a good rule of thumb. Every time you have to give out your credit card information, ask yourself “is this really free?”

Many of you probably know this is happening because you have been caught in the trap of this type of marketing tactic. But for those of you who just want your annual free credit report, you can at least be aware of what’s really going on and have a no-nonsense way to get it.

Copyright © 2006 All rights reserved.

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