A Truly Free Credit Report
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Federal law allows you to get a truly free copy of your credit report each year, at annualcreditreport.com;
- If you sign up for the services at freecreditreport.com, you’ll need to cancel just days later to avoid being charged.
And let’s not forget Ben Stein, looking avuncular, and promising TV-watchers free credit scores and free credit reports, if they’ll just sign up for his company’s service. Stein’s push for free stuff that isn’t actually free is even more galling, given his background–which includes Yale, training as an economist at Columbia, and work for the Federal Trade Commission. Stein also fails to tell you what you need to know, namely how to get a credit report for free, and that the company he’s shilling for costs $29.99 month!
Fortunately, the feds are stepping in. New regulations that take effect April 1st (really!), require companies that offer “free credit reports” to prominently post a notice telling you about your right to get a really free credit report from annualcreditreport.com, with a clickable button. These, and other rules, should keep these companies from misleading consumers into paying for something they can get for free.
Of course, getting your credit report is just the first step. Then, you need to review it to make sure the information is accurate. Also, check to make sure the information is not too old. Credit information that is older than 7 years, or bankruptcy information older than 10 years, doesn’t belong on your credit report. Click here for information and advice about what to look for on your credit report and how to get rid of inaccuracies. Unfortunately, as this thorough analysis by the NCLC makes clear, correcting your credit report may not be simple. Nonetheless, it’s worth the effort to try. Just make sure you carefully document your efforts.
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