Why You Shouldn’t Pay a Penny for a Free Credit Reports

The Federal Trade Commission(FTC), warns consumers about sites that offer “free credit reports”.

“There is only one site that is authorized to offer a truly free credit report –  Sites that offer “free credit reports, ratings, or monitoring,” are not part of the program required by law,” reports the FTC.

According to the agency, sometimes the “free” product comes with a “hidden” obligation.  For example, some websites sign you up to receive a supposedly free service.   A service that ends up becoming a monthly paid service once the trial period expires.

If you do not cancel the service during the trial period, you may be giving your consent for the company to charge your card monthly.

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How to recognize the sites?

  1. Some of the imposter sites include terms such as “free report” in their names.
  2. Others establish URL addresses by intentionally writing “” with misspellings.
  3. There are also websites that try to sell you something or collect your personal information.

Be careful giving away your personal information

The FTC also warned that neither the site nor the consumer reporting companies will ever send you an email requesting your personal information.

Therefore, if you receive an e-mail, see a pop-up ad on the Internet or receive a call in supposed representation of or one of the three consumer reporting companies.  Do not respond or click on any link or link contained in the message.  It is probably a scam.

What should you do?

The consumer must immediately resend the electronic message to the FTC:

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