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When free really isn't free

Consumer Reports WebWatch recently analyzed 24 credit report sites with "free" or "credit" in their names. More than half offered free credit reports if you signed up for monitoring services that cost between $120 and $160 a year. Others offered free credit scores if you buy three credit reports.

Consumers may get confused by all the credit report sites out there and end up paying needlessly for something they are entitled by law to receive for free.

AnnualCreditReport.com is the site to remember. Under a 2003 law, you're entitled to a free copy of your credit report each year from each of the three major credit reporting bureaus: Equifax, Experian and Transunion. You can also call 877-322-8228.

Read the full report.

Posted by at September 20, 2007 1:57 p.m.
Comments
#53405

Posted by Barely Legal at 9/20/07 7:28 p.m.

Another catch with these "free" services is that normally they require a credit card to sign-up and then require you to cancel within a certain time frame or you will be charged. I signed up for a service like this to obtain a free credit report. When I called to cancel the service it was like pulling teeth. It literally took me 15 minutes of arguing with the CSR to cancel the account. I was very firm but I am sure many people get taken advantage of in this respect as well. It's a scam.

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