New York Senator Schumer Tries to Make “Free” Credit Reports Free
November 18, 2009 · Print This Article
Most people can sing along with the commercials about free credit reports. These commercials are entertaining and funny, but are they offering an honest product? New York Senator Charles E. Schumer doesn’t think so. He believes these ads are the equivalent of scams and wants to do something about it.
Here is the crux of the problem. The ads offer free credit reports to consumers. That sounds fairly up-front on the surface. But many of these commercials are actually trying to sell a monthly subscription service for credit monitoring. That is a far cry from a single free credit report.
Some of the confusion arises because the Fair and Accurate Credit Transactions Act gives consumers the right to get a free credit report each year from each of the 3 major credit reporting bureaus. Once you understand this fact, the commercials offering a free credit report really don’t make sense. Obviously they are selling something but people are getting charged after trying to obtain their free credit report through the advertiser’s website.
What they are getting charged for is a monthly credit monitoring service they did not intend to sign up for. Consumers are claiming they are required to enter their credit card number before they are able to ask for the free credit report. The credit card statement arrives and there’s a charge. Upon inquiry they find out that authorizing their credit card was actually authorizing a monthly subscription service.
When any company offers something free and you are required to enter payment information, there is an excellent chance you are not getting anything for free. Btu the advertisements can be confusing and deceptive, and that’s why Schumer wants to make some changes through FTC regulation and rule enforcements.
First, Schumer is asking the FTC to force these credit subscription services to include a statement on their websites and commercials letting people know the government entitles them to free credit reports from the credit reporting agencies. Second, Schumer he wants it made clear on these same websites or in commercials that consumers who ask for credit information from the company are not accessing the only authorized website where credit reports authorized by the law can be requested.
There is only one website at annualcreditreport.com that consumers should use to request their free credit reports that the government allows. Schumer wants consumers to understand while watching the commercials that they do not have to pay anything for their free credit reports that are authorized by the government annually.
Senator Schumer said, “If these companies want to say – or sing for that matter – that they are giving people free credit reports, then they can’t charge people $15 a month, simple as that. For years, these companies have said with a smile that they will provide a free credit report – even though the government already requires a credit report be provided for free every year – and then suddenly, months later consumers get a bill in the mail for their credit monitoring services. My plan would finally bust up this scam an give consumers some honest choices.”
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Though I understand what the senator is saying, I still feel that consumers need to be more aware of what they sign up for. They get caught up with the idea of something being free without reading the fine print
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ECR Free Instant Credit Reports | Instant Credit Score – Free Credit …: When people started writing into me and as…
Secured credit card that reports tot he major credit bureaus?
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Usually between $9.95 to $19.95 for all 3 reports but I always use annualcreditreport.com every 12 months.
credit-report-score.10001mb.com – try this site. I use it to monitor my credit and also cleaned off some bad items from my credit report. You can apply for free initial plan and get your scores and reports for free.
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Here's a couple websites that explain the scoring system and what goes into the reports to get the score.
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Yes, there are several sites out there that state your can get a "free" credit report. But, sad truth is when you get to those sites they are asking for credit card information or payment. So your best chance really is to check out
Many people simply type in "Free Credit Report" into their favorite search engine hoping to hit gold. Unfortunately, the majority of sites that come up on top are sites that don't really offer free credit reports, but rather are sites that are offering credit monitoring services.
Unfortunately, many "free" credit report websites do business like the free credit report sites mentioned above. The trick is finding the right website to use.
According to the FTC website, there is only one website that is authorized to give out free credit reports. Here's what the FTC website says:
"Important information from the Federal Trade Commission, the nation's consumer protection agency: annualcreditreport.com is the ONLY authorized online source for you to get a free credit report under federal law. You can get a free report from each of the three national credit reporting companies every 12 months. Some other sites claim to offer 'free' credit reports, but may charge you for another product if you accept a 'free' report."
The AnnualCreditReport.com website was easy to use and we were able to access all three credit reports without paying a penny.
You can also get your free credit report via phone by calling 877-322-8228. Just remember, you can only request one free credit report from each of the three credit reporting agencies each year.
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