Don’t Let a Free Credit Report Cost You

photo credit: Logan Antill

You’ve seen the commercials and can probably sing along to the catchy theme songs - free credit reports are widely available, and everyone seems to want to get your yours. But buyer beware, many of the free credit report websites and companies actually charge for their services, merely luring you in with one, free credit report.
To sign up for many of these sites, you’ll need to provide your credit card. Read the fine print, because in most cases, your credit card will be charged for monthly site subscription fees, which will generally monitor your credit report and let you know of any activity.

This service may be helpful, but at $15+ per month, is it necessary? You credit report generally shows activity whenever you apply for new credit, so you should know what’s going on on that front. In addition, all Americans are guaranteed one yearly free credit report, available from AnnualCreditReport.com, the only government-authorized credit reporting site.

Your best bet, unless you have certain extenuating circumstances, is to order your a really free credit report from AnnualCreditReport.com, and make sure all looks good. If so, keep your credit applications down, and check on your report each year. This free, financially-responsible step is usually all you’ll need to maintain clean, well-managed credit.