Free Annual Credit Report

There is a great deal of confusion about what a free credit report is.  Some people believe a free annual credit report is just as it sounds.  It is a report that is completely free of charge with no strings attached.  Others believe there is no such thing as a completely free report, and thus, they must order other products and services in order to get a free annual report.  In that case, it would not truly be free.  If you are unsure of what a free report is, you need to understand the law governing free credit reports and how that law directly affects you and your ability to have access to your annual credit report.

The Fair Credit Reporting Act was put in place to ensure that credit bureaus follow a certain set of guidelines.  An amendment was recently added to this act that requires the three credit reporting agencies to give every individual a free copy of their credit report every year.  This annual credit report is to be given without any strings attached.  There are not any products that need to be purchased in order to obtain a free copy of the report.  However, there are still many companies that try to sell something when giving the free report.  Because of this, many people have been led to believe there is no such thing as a free report.  However, those who have listened to the Federal Trade Commission have learned they can go to www.annualcreditreport.com and get a legitimate free copy of their annual credit report from the three major credit reporting agencies. 

When you go to www.annualcreditreport.com, you will not be asked to give a credit card number or bank account information for your annual credit report.  With other sites, you might be asked for financial information.  If you give billing information, you are not at a legitimate site.  You will likely get billed, and thus will not really get the free report you are entitled to by law.  Instead, you will be charged for the report, even though it has been advertised as free.  Many people have complained to the Federal Trade Commission about this scam, but you will have a hard time getting your money back because the website likely disclosed they were going to charge you, although it was likely in small print that you did not see when you signed up.

Understand the law is on your side when it comes to your annual credit report.  A free report can give you the information you need.  Do not make the mistake of falling victim to one of the scams out there.  You do not want to pay for a credit report you could easily get for free.  Do not give out your credit card or bank account information.  Instead, verify your identity and gain access your three free annual credit reports.  You will be able to get a report from each major credit bureau one time each year, without being charged for anything.