Is Your Free Credit Report Really Free?
You probably know how important it is to regularly check your credit report. And, if you know how to work it, you can get a free credit report every four months (one from each credit bureau once a year). But what about those other sites? The ones that offer a free credit report? Well, watch out. The credit report may be “free,” but the services you sign up for when you view your credit report aren’t.
Did you inadvertently sign up for a credit monitoring service?
It’s one of the biggest gimmicks out there. Get something “free” if you sign up for something that costs…more. And it applies to the free credit report. Many Web sites automatically sign you up for a credit monitoring service when you go to view your credit report. That’s why they’ve asked for a credit card. It is automatically charged to your card to the tune of between $7.95 and $14.95 per month. And some of these services even charge a “per item” fee. You give them permission to automatically dispute a negative item on your credit report, and you are charged per item. And because it’s automatic, even if the information is accurate it is disputed. Which means you just wasted your money.
Do you need a credit monitoring service?
You really don’t need a credit monitoring service, if you keep on top of your credit report. But if you must have one, go ahead and sign up through your credit card. Many cards offer credit monitoring for a cost of a small percentage of your balance. So if you have no balance each month, then you get the credit monitoring for free.
And remember: the only authorized site to get a truly free credit report is www.AnnualCreditReport.com.
Tags: check-credit-report, credit-card, credit-monitoring-service, free-credit-report, get-free-credit-report, Personal Finance, personal finance blogRelated Stories
POSTED IN: Credit, Personal Finance, Saving Money
3 opinions for Is Your Free Credit Report Really Free?
Fix credit score help
Nov 14, 2007 at 7:43 pm
It’s true and yes it’s free but the scores of course will cost
miranda
Nov 14, 2007 at 10:14 pm
Scores always cost extra, even with the annual credit report. But it is important to make sure you aren’t getting extra services (with fees!) when you check. Stick with the official site, and you won’t get stuck with all the fees.
Mike Clover
Jan 2, 2008 at 12:01 am
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