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November 30, 2004 12:23 PM

Free Credit Reports Coming, With Pitches


Excerpt: Under a federal law passed a year ago, consumers will be entitled, beginning as soon as tomorrow, to a free credit report every year from each of three big credit reporting bureaus that maintain them. But the industry is not necessarily going to make it easy, given that selling the reports, as well as ancillary services, has become a lucrative business. Indeed, in the process of getting a free report, many consumers will be bombarded with pitches to buy related products, including some that carry pricey monthly fees.


Free" may just be another word for something else to buy, at least when it comes to credit reports.

Under a federal law passed a year ago, consumers will be entitled, beginning as soon as tomorrow, to a free credit report every year from each of three big credit reporting bureaus that maintain them.

But the industry is not necessarily going to make it easy, given that selling the reports, as well as ancillary services, has become a lucrative business. Indeed, in the process of getting a free report, many consumers will be bombarded with pitches to buy related products, including some that carry pricey monthly fees.

The law entitling consumers to the free credit reports will be rolled out in phases: residents of 13 Western states, including California, can get the free credit reports beginning tomorrow. New York, New England and the Mid-Atlantic states will be in the last phase, which takes effect next Sept. 1.

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High Court Sets Truth In Lending Limit (December 02, 2004)
The Supreme Court ruled Tuesday the federal truth in lending law caps damages at $1,000 for violations of its requirements for consumer loans secured by personal property, such as a motor vehicle. The law instructs lenders to disclose certain information to borrowers and imposes civil ...
Free Credit Reports May Reveal Surprises (December 01, 2004)
Sylvia Gallow-Vazquez was shocked earlier this year when she applied for a Discover credit card and was denied because of poor credit history. Her credit had been impeccable. She had never been denied a loan before. And she had never even been late on her ...
Teens Need To Embrace Identity Protection (November 30, 2004)
Experts at the Qwest 2004 Summit on Protecting Teens from Identity Theft found that teens tend to be more careless about sharing personal information, especially on the Internet. So teenagers, here are some tips to help you keep your identity safe: - Be smart online ...
What to Do About Your Credit (November 29, 2004)
Free credit reports are coming your way (see Tip of the Week for details). But you may have to take further steps to fix mistakes you come across, or pay for other information, such as your actual credit score. It could be worth the trouble ...

Read all 21 posts in the same category of Credit/Credit Card:

Citigroup Says It Will Issue American Express Cards - Dec 17, 2004
MBNA Pitches Rival Visa Card - Dec 14, 2004
Credit Card Loyalty Put to the Switch Test - Dec 09, 2004
Credit Cards Offer Safety In Buying Online - Dec 06, 2004
How to Deal With Your Debts - Dec 04, 2004
FACTA & Your Credit - Dec 03, 2004
Warning On Internet Loans - Dec 02, 2004
High Court Sets Truth In Lending Limit - Dec 02, 2004
Free Credit Reports May Reveal Surprises - Dec 01, 2004
Teens Need To Embrace Identity Protection - Nov 30, 2004
What to Do About Your Credit - Nov 29, 2004
A Generation Weighed Down By Debt - Nov 28, 2004
7 Ways to Improve Your Credit Score - Nov 25, 2004
Free Credit Report Details Announced - Nov 25, 2004
One Late Payment Can Hit Finances Hard - Nov 25, 2004
Free Credit Reports Are On The Way - Nov 23, 2004
Card Debt - Nov 22, 2004
Soaring Interest Compounds Credit Card Pain for Millions - Nov 20, 2004
Gas Cutter - Nov 02, 2004
Payment Rates - Nov 02, 2004