FREE Credit Reports Tips for ConsumersTuesday, March 30, 2010

Can You Really Get a FREE Credit Report? CCCS of Greater Atlanta Offers Information to Avoid Misleading Offers

ATLANTA, GA. -- A credit score is a vital component of overall credit health, and consumers should be proactive in learning what is in their credit report and how it may affect their score and their ability to secure credit. Consumers should beware of misleading advertisements claiming offers of free credit reports that are a really a sales tactic to get consumers to purchase credit monitoring or repair services, sometimes for a hefty fee.

"Free credit reports, without strings attached, are available," said Mechel Glass, director of Education for Consumer Credit Counseling Service (CCCS) of Greater Atlanta. "Consumers need to know where to turn and not be enticed by online offers that promise free reports and then require them to sign up for programs and services that have a fee."

Help is on the way for consumers. Beginning in April, the Federal Trade Commission (FTC) will require any Web site that advertises free credit reports to include the following disclosure across the top of each page: "THIS NOTICE IS REQUIRED BY LAW. Read more at www.ftc.gov. You have the right to a free credit report from www.annualcreditreport.com or 877.322.8228, the ONLY authorized source under federal law." The ads must also include live links to both www.annualcreditreport.com and www.ftc.gov. Similar rules for television and radio advertising will go into effect later this year.

Consumers are entitled to receive one free copy of their credit report per bureau, per year. You can request a copy of your report online at www.annualcreditreport.com, by calling 877.322.8228, or by mailing a request form to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281. It is a good idea to request a copy from each of the three bureaus - Equifax, Experian and TransUnion. Each compiles data differently and one could include erroneous information not on the others.

In order to access your report, you will need to provide your name, social security number, date of birth, and information only you would know, such as the amount of a monthly mortgage or car payment.

When requesting your free credit report, you will also have the option to purchase a report that contains your credit score for a one-time fee. You can also purchase your FICO score directly from Fair Isaac at www.myfico.com. These options are not required in order to get your free credit report.