We have all seen the commercials and heard the advertisements. "Free credit report!" Well as most things in life that advertise "FREE" it is only half true.
The free credit report is almost always a lure. All you have to do is fill out a form with your email address, personal information, and credit card number and you will receive a free credit report.
What they don't tell you is that you will also receive an annual bill from the company. The company will just bill the same account you gave them in the first place. They are hoping you will just not notice the cleverly disguised charge on your credit card. You will be continually be billed until you cancel the service. You also have given your personal information to a company that is operating by being somewhat deceiving. I don't like the smell of that.
The problem is, most of these companies are operating within the guidelines of proper business practices. You can't really even call it a true scam. They most likely have some type of lengthy disclosure that nobody really bothers to read, about how you are agreeing to be billed annually. This agreement is usually camouflaged in with the rest of the minutia of information. They just are not as forthcoming as I would like. If they were, they wouldn't be in business.
The business model of the company is that they are going to charge you for something you can receive free of charge elsewhere. Also, they are not going to incur any charges either. They are acting as a middle man when there is absolutely no need for it. I guess what bothers me about all this is that anyone can receive a free credit report that is actually free! And they don't tell you this.
Congress has mandated that every citizen of these fine United States of America can receive a complimentary report of their credit standings once per year free of charge. That's right, free.
So do yourself a favor and bypass the middleman.
The congressionally mandated site is AnnualCreditReport.com
You won't see in advertised during prime time. They don't have any catchy jingles. They are simply a gateway for you to receive what is rightfully yours to receive free of charge.