Free Credit Report ? Watch Out for Scams

Many people may still not be aware of an amendment to the Fair Credit Reporting Act (FCRA) that Congress passed last year. This amendment allows U.S. citizens to receive a copy of their credit report, for free, once per year. The plan is being rolled out slowly in order to avoid swamping the system, but people living in the West and Midwest can receive their credit reports now, and everyone will be able to obtain a free credit report by September of this year. Those seeking a copy of their credit report should watch out, however, as not everyone who promises a "free" credit report is actually delivering one.

These free credit reports may be obtained through the official Website: http://www.annualcreditreport.com. Additional information is available at the Federal Trade Commission Website at http://www.ftc.gov/credit. Obtaining a copy of your credit report through this site is easy, and only requires your name, Social Security number, date of birth, and address. That would seem fairly straightforward, but there are many companies, some legitimate and some not, that are interested in attracting the business of those who seek copies of their credit report, and scams are flourishing.

Some companies have established Websites with addresses that are very similar to the address of the official site. These sites promise a free credit report, but they are actually only interested in harvesting your personal information. In addition to stealing your name, Social Security number and address, these sites may also tell you that a credit card number is necessary to "verify" your identification. With this information, the people operating these sites can steal your identity! There are many other Websites that promise "free" credit reports, but few that actually provide them for free. One such site is currently under investigation for credit report fraud. The site promised a "free" report, but required a credit card for "identification" purposes. Customers filled out the form and received a copy of the credit report but also received a charge on their credit card for $79.

Other unscrupulous companies take a more direct approach by sending spam e-mail that promises to provide free credit reports. These spam messages are almost always "phishing" expeditions that are designed only to obtain your personal information. If you are interested in obtaining a copy of your credit report, you should avoid responding to e-mail solicitations.

It is a rare occasion when you can obtain something for nothing. You can, however, receive a copy of your credit report, for free, once a year. Be aware, however, that not everyone who is promising you a free credit report intends to provide you with one.

?Copyright 2005 by Retro Marketing.

Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.

---

My Credit Card Application Was Rejected! Now What?!?

No doubt, you've probably gotten literally hundreds of credit card applications in the mail and online, and each and every one of them has said that you've been "Pre-Approved".Of course it's natural that... Read More

3 Free Credit Reports For You

If you were to tell someone that they can have a certain item for free, more than likely their response would be, "what's the catch?" In the case of credit reports there is... Read More

Free Credit Report - Really

2005 marks the year that consumers will be able to get a free credit report each year. The roll out of the Fair and Accurate Credit Transaction Act signed into law by President... Read More

The Hitchhiker?s Guide To Insanity

A new sickness is plaguing the UK called Denial. Denial has resulted in a national personal debt of almost ?1.1 trillion (source Credit Action). Symptoms include:* Refusal to open bank statements * Lots... Read More

Credit Card Traps: How To Spot Them On The Spot!

They arrive in your mail - a conspicuous looking mail piece from some "official looking" bank claiming that you have been Pre-Approved for a Mastercard or VISA credit card.Of course, you don't have... Read More

Warning: Todays Non Profit Credit Counselors Are Yesterdays Bill Collectors!

Here's a dirty secret, today's "non profit credit counselors" are often just front organizations paid lucrative commissions by creditors to keep consumers from declaring bankruptcy!In the "debt collection biz", creditors will sell your... Read More

Credit and Banking Money Saving Services

The first rule when applying for banking and credit services is to always read the fine print and to understand all of it. Read up, take it home, and analyze it, ask the... Read More

Get Your Credit Score To Soar In The Twinkling of An Eye

Ever wonder how a creditor decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you'd be a good risk for credit cards and auto... Read More

Credit Repair: How To Deal With Your Creditors

If you are in danger of credit problems because you have more debts than you can handle, there are things you can do at least keep your creditors reasonably happy.First, prioritize your debts... Read More

I?ve Heard About FACTA; What Does It mean?

What FACTA means is that if you, as an individual, lose the information on anyone you have ever hired; or, for any business in the United States of America that collects any personal... Read More

Fair Isaac Corporation Credit or FICO Score

As I am not from the US, I had no idea what FICO meant before researching it. FICO stands for Fair Isaac Corporation, a company based in California. FICO, put simply, is a... Read More

Credit Card Companies Are Out for Your Money

You're probably thinking "Tell me something I don't know" but in this time of low interest rates you might be thinking that you've got a great deal since credit card interest rates are... Read More

Credit Report Hassles

There is no end to the amount of pain that your credit report can cause you. If you have a bad credit history this is something that can follow you around and wreak... Read More

Different Types of Credit Cards and Features - Part 1

Just as there are too many credit card companies to count, there seems to be just as many different credit cards, all claiming to offer you the best possible deal. Since no two... Read More

Credit Cards - The Basics

How Lenders Operate ? And How They'll Make a Tidy Fortune from the UnknowingCredit card companies might seem like immensely clever, money making enterprises that exploit every loophole to maximize the interest payments... Read More

Credit Repair Companies and Credit Counseling

Let's be crystal clear, right up front. Paying someone to "fix" your credit is a waste of your time and money, since the negative issues that are temporarily removed from your file will... Read More

Are 0% Credit Cards Reaching Their End?

Are Credit Card companies starting to feel the pinch? We all know that the Credit Card companies make their money by charging us interest on the money we borrow. With all the 0%... Read More

Give Yourself Credit

The Beginning of the Credit Card EraIn 1951, Diners Club issued the first credit card to 200 customers who could use it at 27 restaurants in New York City. From that modest beginning,... Read More

How did a Thief get my Name? Don?t be a Victim of Identity Theft

How do these people get my name? If you have a credit card, your name is sold to third parties, if you do not want this to happen, you must contact your credit... Read More

Why Consumers Need a Nationwide Credit Freeze NOW

What do a shoe retailer, an online discount broker, and a popular clothing retailer all have in common? All three - DSW Shoe Warehouse, Ameritrade, and Polo Ralph Lauren - sustained breaches to... Read More

Tips for Choosing a Credit Card Company

Credit Cards are essential for any consumer today. However, when choosing a new credit card company, many people do not know what to look for. It is important to have a good company... Read More

What You Need to Know About Interest Rates

For all people shop around for the best rate, there are few who have taken the time to sit down and add it all up. After all, why would you bother? The answer... Read More

Useful Tips When Choosing Credit Cards

Chances are you have received your share of "pre-approved" credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept "before the... Read More

Guide to Credit Terms

Listed below is a useful guide to credit card terms. It is a list of definitions of credit card terms that may or may not be familiar to you.Annual FeeVarious card issuers charge... Read More

Credit and Loan Help for Mortgage Loans

Mortgage loans are some of the most difficult loans to receive if you have bad credit because lenders focus heavily on your credit score and history of making payments on time. However, there... Read More

Finance - Money, Money

Finance is a big word for some of us. It's a little scary. Maybe you immediately go to thinking about "high finance." That's even scarier. But what is the field of finance really... Read More

Credit Reporting: How Does It Work?

In order to determine a consumer's credit worthiness, creditors and lending institutions have come to depend on credit reporting agencies. Credit reporting agencies supply individual reports that provide consumer specific information for lending... Read More

How to Deal with Hire Purchase Debt

WHAT IS HIRE PURCHASE/CONDITIONAL SALE?Although people often talk about "buying on HP", Hire Purchase Agreements are quite unusual these days. Cars are the most usual goods sold under Hire Purchase or Conditional Sale... Read More

Learning the Disturbing Facts about Credit Card Debt

When I received my first credit card in the mail at age 18 I was ecstatic, I said to myself, wow now I'm getting somewhere in life. This credit card company thinks I'm... Read More