Friday Fun Video: FreeCreditReport.com
September 5, 2008 by Miranda Marquit
Filed under Finance
While I like the FreeCreditReport.com commercials, I would never sign up for the service. Since you have to get a paid service in order to get the *free* report.
Happy Friday!
Freecreditreport.com is a scam, a complete ripoff even beyond the fact that they are spending millions on advertising and selling something available for free.
My son fell for this scam and requested a credit report, nothing more. He gave a credit card – as they required – and it was one he never uses, just for emergencies. We realized they started billing it for $39.95 each month for some credit monitoring service. We called to get the three charges taken off and wasted hours and hours getting a well-planned runaround.
Finally we called the credit card company and had the charges charged back as invalid.
The clever commercials are targeting younger people, new credit card holders, who don’t know any better. Beware of this scam!
Thank you for chiming in, Sean. You are absolutely right that this is NOT a good idea. It’s expensive and unnecessary — despite the clever marketing.
For a free credit report, visit annualcreditreport.com. Even if you have used up your free yearly report, it is possible to get a 3-in-1 report from most bureaus or MyFICO for between $35 and $50. Much better than paying $39.95 every month.
There aint no free lunches baby and their aint no free credit report either, they can sell your new data to agencies and make you pay a monthly fee in the future. If you want one, ask for a bank loan they will get one for you.
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Good writing.
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Thanks, wisequeen! Although it is worth noting that most banks will actually charge you the fee for pulling up your credit report. It’s usually one of the origination fees or closing costs.