Why Some “Free Credit Reports” Are Not Free
Have you ever heard that catchy jingle on TV that talks about a free credit report? Did you inquire more with a visit to their web site, only to be either disappointed, or worse, fooled into paying for something that you thought was free? We see it happen all the time.
Because of the proprietary nature of credit scores, credit reporting companies maintain the right to charge you to see your credit score. In an effort to get you to buy a view of your score, some companies have decided to bundle your score and your report and sell them both to you at once. Or, better yet, they automatically sign you up for a credit report monitoring services which comes with a monthly charge, billing you each month. All you wanted to do is see the information on your credit report, which you were told would be at no cost, and you end up walking away with a $16.95 a month credit monitoring subscription that you may not really need.
You can, in fact, view your credit report once each year from each of the three credit reporting companies. You are restricted, however, on seeing your credit score. According to the Federal Trade Commission, www.annualcreditreport.com is the only authorized source to get all three of your credit reports for free each year.
You should take the opportunity each year to review your reports to ensure that all of the information on them is accurate. In some reports, it has been said that up to 80% of credit reports have some type of error on them. Do not assume that the financial data collected and reported about you is accurate. The only way to be sure is to order a copy of your report and check for inaccuracies or discrepancies.
If you find incorrect information on your report, you can work with the credit reporting companies to have it corrected or you can hire an experienced attorney to assist you. A full service debt relief law firm such as Harold Shepley & Associates can provide you with information regarding your situation and how you should move forward. Contact them today to find out more information on your options regarding the accuracy of your credit report.
January 16, 2012 Posted in Credit Tagged credit, Credit Report, Harrisburg, Pennsylvania, Pittsburg Leave a comment
