2006-07-24 19:52:34 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
As a mortgage broker, I can say that those free credit rports are a money making scheme. Yes they do give you a fical score but in many cases it is not worth it.
Your credit is composed of your credit history as well as your UPPER, MIDDLE and LOWER credit scores as pulled from Transunion, Experian and Equifax credit reporting systems.
I normall do all my credit reports at CIS Information Services (phone number 800-275-7722) because they are better prepared.
I have had clients who try to show me their online credit reports and they only have ONE fico score on them. One score is not enough to see you're overall credit so be careful what company online you choose.
also keep in mind that the only credit score banks will be interested in is your MIDDLE FICO.
Your highest fico is not used because it isn't fair to the bank's, and the lowest score is not used because it isn't fair to you.
Also note that a credit report costs about $10. FreecreditReport.com forces you to use a credit card to sign up for a trial period of their service. I won't even bother to mention how many call lists and advertisements you will be solicited for if you put your information in their hands.
2006-07-24 19:54:44 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Yes and it's not free. They have this on the side in print that you can barely read.
"IMPORTANT INFORMATION:
When you order your free report here, you will begin your free trial membership in Triple AdvantageSM Credit Monitoring. If you don't cancel your membership within the 30-day trial period, you will be billed $12.95 for each month that you continue your membership.
ConsumerInfo.com and Freecreditreport.com are not affiliated with the annual free credit report program. Under a new Federal law, you have the right to receive a free copy of your credit report once every 12 months from each of the three nationwide consumer reporting companies. To request your free annual report under that law, you must go to www.annualcreditreport.com."
Make sure you read this before you sign in.
2006-07-24 19:59:28 · answer #2 · answered by DragonHeart18 4 · 0⤊ 0⤋
Yes. It's a rip-off. It's NOT free, they just want to force you to sign up to pay for their credit reporting service before you can get the report.
The government now mandates that you are allowed to see your credit report for free once a year. But the only reliable, genuinely free credit report site on the web is http://www.annualcreditreport.com
They will give you reports from THREE different reporting agencies: Equifax, TransUnion and Experian.
Granted, they will try to sell you other credit reporting services while you're there, but it's easy to just check "no thanks" and then you get the reports absolutely free.
2006-07-24 19:59:21 · answer #3 · answered by george 7 · 0⤊ 0⤋
I agree with george, that is a rip-off.
Only use the federal government site to get your free FACT-Act reports. George has the link in his post.
2006-07-24 20:09:21 · answer #4 · answered by echo 7 · 0⤊ 0⤋
yes and its not free.. either.. have to enter your c/c info ..
its not worth it.. google up, equifax, experian and there is one more.. i forget the name.. you can get a free report mailed to you from the once a year
2006-07-24 19:56:48 · answer #5 · answered by ♥ Lisa♥ 5 · 0⤊ 0⤋
I tried and found out it wasn't free. Pixxed me off.
2006-07-24 19:56:59 · answer #6 · answered by Cookie 5 · 0⤊ 0⤋
yes
2006-07-24 19:54:58 · answer #7 · answered by Francisco F 2 · 0⤊ 0⤋
No.
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2006-07-24 19:54:21 · answer #8 · answered by Mo 6 · 0⤊ 0⤋
no
2006-07-24 19:56:41 · answer #9 · answered by gangstergirl9000 2 · 0⤊ 0⤋