Posts Tagged ‘Unnecessary services’

Free Credit Reports Can Cost You!

There really are ways to get a free credit report instantly, but these supposed “free” credit reports could cost you. Among the list of confusing marketing tactics are those pertaining to the retrieval of your financial history and payment records-and credit score.

A list of the marketing tactics used by companies who offer supposedly free credit reports include as follows:

  • Oftentimes companies will offer a free trial of a service that is designed to help you monitor your credit. However, it can be very easy to forget that the advertisers of these services asked you for your credit card number or PayPal account and you can run up a bill in no time.
  • If you have signed up for a free trial, you might be paying a pretty penny for services you do not need when that trial is over. Sometimes you can expect to pay $20 to $30 for services you could otherwise get free according to the Credit Transaction Act of 2003 (FACTA).
  • Consumers are entices by “free credit report” offers and then later are coaxed into signing up for services inconsistent with the regulation standards of the Better Business Bureau or Federal Trade Commission.
  • In the worst-case scenario, people have signed up for what they thought was a legitimate place to get a free credit report. However, what ended up happening is they got ripped off.

This is not to say that credit-monitoring services do not offer worthwhile assistance to people. You should just watch out because you could end up paying for services that are unnecessary.