FreeCreditReport.com’s ad may spell the company’s name correctly, but Consumer Reports says that going there doesn’t necessarily spell savings for consumers.
“If you click on FreeCreditReport.com’s Web site to order your credit report, you’re automatically billed $14.95 a month for a credit monitoring service after a free trial. So essentially your free credit report costs you about 180 dollars a year,” said Consumer Report’s Amanda Walker.
The site is just one of many credit report Web sites with “free” in their name that are trying to entice consumers. Consumer Reports ShopSmart says avoid them.
“It’s money you don’t have to spend. You’re already entitled to a free copy of your credit report from each of the three major credit bureaus every year.”
To get those, go to Annual-credit-report.com. It’s the only Web site where each year you can get free credit reports, no strings attached, from all the three major agencies: Equifax, Experian, and TransUnion. You can also call 877-322-8228.
“It’s a good idea to stagger your requests. You can order one of your reports about every four months. And that way it gives you an opportunity to check up on your credit throughout the year,” said Walker.
And while the song in the commercial is catchy, make sure that credit report you order really is free.
Once you have your credit report, Consumer Reports says check it for accuracy and possible fraud. If you find errors on your credit reports, you can get advice on what to do at ConsumerReports.org.
Email
Facebook
Google
Twitter
Favorites
More
Advertisement