FreeCreditReport.com isn’t free
Apparently Experian, one of the big three credit reporting agencies, thinks that $14.95 per month is the same as free. The FTC doesn’t agree and is going after them and their FreeCreditReport.com web site and the catchy jingle in their television ads. It’s a classic bait and switch tactic and Experian has been fined $1.2 million over the past five years. My guess is that their income from the bait and switch tactic has been worth it.
If you want a credit report that’s really free, you should go to AnnualCreditReport.com. You can also go to FreeCreditReport.gov, note that it’s .gov not .com, which redirects you to the Federal Trade Commission web site.
Cardholder911 strongly suggests that you spread your free reports over the year and request a credit report from only ONE of the big three every four months. This is normally sufficient protection.
If you choose to go to FreeCreditReport.com and pay $14.95 per month for credit monitoring, then feel free to do so. Just remember that you’re only monitoring one of the big three. Also be aware that you can probably do just as well by looking at your bank and credit card statements every month.
