By now, you probably know that most sites offering you a free credit report are doing it in the hopes of persuading you to sign up for credit-monitoring services that are far from free. But did you know the free credit report scams are steadily being replaced by the even more enticing free credit score con? This isn’t surprising: A free credit report can give you a lot of information about your open credit card balances, total amount of debt, and any missed or late payments in your past, but it doesn’t give you your actual three-digit credit score. This is the score mortgage lenders rely on when determining whether you qualify for a mortgage loan and at what interest rates. This, in other words, is the number you, and countless other consumers, want.
Free Credit Score?
Unfortunately, the companies offering credit scores charge consumers for them, usually about $15. But if you scan the Internet, you’ll see web sites with such names as FreeCreditScore.com, promising to give you your score at no charge. But be careful: Most of these sites are little more than tricks to get you to pay for a credit-monitoring service you most likely don’t need. Here’s how the most popular of these sites, FreeCreditScore.com, works: You only get your free credit score if you provide your credit card information and agree to sign up for a free trial of the credit-monitoring service provided by Experian, the national credit bureau behind FreeCreditScore.com.
Watch Those Free Trials!
This sounds legitimate, right? After all, what’s the harm of a free trial? Here’s the trick: If you don’t cancel the credit-monitoring service after the free-trial period ends, you’ll be charged a fee of $14.95 on your credit card. If you still forget to cancel the service, you’ll be charged the same amount the following month. Experian, it seems, is counting on busy consumers to forget to cancel their service once the trial period ends. Many consumers might barely notice the fairly low $14.95 charge on their crowded credit card statements. Yes, it’s a rather devious way for the company to make some profit.
Go With the Truly Free Site
Unfortunately, there is no way for consumers to get their credit scores from sites that legitimately offer them for free with no strings attached. However, you can get your free credit report, without any tricks, at AnnualCreditReport.com. You’re entitled to one copy of each of your three credit reports – maintained by Experian, TransUnion and Equifax – every 12 months. Take advantage of this offer, and avoid the FreeCreditScore or FreeCreditReport scam artists.
If you’ve been scammed by a Free Credit Score or Free Credit Report scheme… we’d love to hear about it. Just post your comment using the link below. Your email address, although needed to post comments, will never appear on our site (for your privacy and protection against spammers).