“Free credit report. com, tell your dad, tell your mom..” this catchy song has prompted many consumers - especially those hoping for a loan- to visit their site for a free credit report.
When you get to Freecreditreport.com, you are asked for your credit card information. This message is in small print at the bottom of the form:
“When you order your free report here, you will begin your trial membership in Triple AdvantageSM Credit Monitoring. If you don’t cancel your membership within 9 days of enrollment, you will be billed $14.95 for each month that you continue your membership…..” Yikes!
The Federal Trade Commission would like FreeCreditReport.com to change it’s tune. A government-mandated site already exists where you can get a free credit report by law.
You are entitled to a free copy of your credit report from each of the three major credit agencies once a year. Visit annualcreditreport.com, it is the only authorized online site under federal law. This will enable you to check your credit 3 times a year. Experts say, for the majority of consumers, that’s enough.
For more info on free credit reports and how to access them, click here.
Facing the Mortgage Crisis Blog Will No Longer Be Updated
Tue, Nov 3, 2009
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