Can You Really Get a Free Credit Report?
Like many people these days I’m worried about identity theft. I’m especially concerned that a malevolent-minded person may get a hold of my social security number and do harm to my credit rating.
One of the steps to make sure bad things don’t happen to your credit rating is to monitor your credit bureau. You want to make sure of at least two things:
- there are no inaccuracies reported in your credit bureau that can negatively impact you.
- catch anyone making unauthorized use of your credit.
A few years ago in my effort to monitor my credit report I navigated my way to FreeCreditReport.com so I could get my free credit report. I had heard their ads and was excited to have access to a new tool in the fight against identity thieves. Silly me. What I discovered was that in order to get my report I was required to pay them money upfront. Disappointed, I simply clicked away from the site – once again feeling manipulated and betrayed by a marketing ploy that fell far short of my expectations.
I’m Not Alone
In 2005 the Federal Trade Commission slapped a deceptive advertising charge against Experian, the company that owns FreeCreditReport.com. They also collected a $950,000 fine. Experian paid a $300,000 fine in 2007 for the same reason.
In fact, after the FTC took action a new disclaimer went up on FreeCreditReport.com’s home page, stating:
If you don’t cancel your membership within the 7-day trial period, you will be billed $14.95 for each month that you continue your membership.
You will also find another disclaimer on their home page. This one lets the consumer know where they can actually go to get a free credit report:
Under a new Federal law, you have the right to receive a free copy of your credit report once every 12 months from each of the three nationwide consumer reporting companies. To request your free annual report under that law, you must go to www.annualcreditreport.com.
