Free Credit Reports – Good Deals?
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Are Free Credit Reports a Good Deal?
Hello, helloo, hello…. Can anybody hear me….?
Yes, it is a very catchy jingle, and it is sung by a baby faced rocker and his group. But despite the engaging 
commercials for websites like FreeCreditReports.com, are they a good deal? Of course, free sounds like a good deal. But those of us over 50 know that no company spends all of that money on ads just to give away things for free.
Actually the Better Business Bureau has heard over 11,000 complaints about this credit bureau owned service. It works like this. You sign up for the free information, but you must give them your credit card number. You have 9 days to cancel, or you will be charged $14.00 a month for Triple Advantage Credit Monitoring.
Experian, the credit bureau who owns FreeCreditReport.com says these terms are made clear to the consumer, but those terms must have missed the notice of at least 11,000 (and we’re betting more) of the people who wanted a free credit report.
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How to Get A Free Credit Report for Real
If you want a free credit report, you can always use the FTC (Federal Trade Commission) website, AnnualCreditReport.com. You can get a truly free credit report from each of the big 3 credit reporting agencies. These are Equifax, Experian and TransUnion.
Should You Get A Free Credit Report?
It is not a bad idea to check your credit report periodically. There is no other way to find errors and to get a handle on the way that potential lenders will view your finances. I havet found mistakes on mine. It was fairly simple to follow the instructions to get them removed. And my credit score improved. A higher credit score can save a lot of money in the long run.
People with better credit reports will pay less when they borrow money. Potential employers may ask to see a credit report too. And you can bet they will be more likely to hire an employee who manages their own budget well. Even insurance companies use scores these days. Some insurers will never offer their best rates to consumers with credit problems.
As they say… It is not always good news, but it is good to know.
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