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Posts Tagged ‘Paid services’

Before you sign up to receive paid credit monitoring services you should make sure you are not paying for services you could get for free. After all, you are entitled up to two free credit reports a year from all three credit bureaus (depending upon the situation).

If you have any doubt about your consumer rights according to the Fair and Accurate Credit Transaction Act of 2003 (FACTA), take a look at this documentation. Your rights and responsibilities are spelled out here. A great place to find this documentation is at the Federal Trade Commission website.

Evaluation Tips

If you are seeking monitoring services for which you may have to pay here is a short guideline to help you along the way. Please view these tips:

• Choose a website that has a clear cancellation policy. Also, before you sign up make sure you read all the terms and services as specified.
• If you can, make sure you are receiving monitoring services you cannot otherwise get for free. It would take a careful study of federal guidelines to be sure, but you can use your best judgment. If you are not sure what your rights are you can take a look at the Fair Credit Report Act documentation.
• Make sure you know whether or not you are going to receive the credit score given out by FICO or whether or it is from some other obscure organization. The FICO one is most reliable.
• Find out who owns the companies who charge for credit reports. This should give you some idea as to whether or not the services are necessary-so necessary you would be willing to invest money.
• Make sure the site you use is secure. One way to know is if you see signs that it is verified. You can also read its privacy or security policy.