FREE Credit Report Offer
FREE credit checks or free credit reports. What are they all about? Why every second company on the Net is offering you a free credit report? Are they all suddenly moved into a charity business?
Don't worry about their finances. Start worrying about yours. They are offering you a FREE Credit report as a bonus. Their main offer is something else - they want to sell you "credit check monitoring services". They claim they are going to protect you from identity theft.
In order to do that, they first ask you about all the details about your credit card and your bank accounts. Talk about a cat watching over cream distributions.
Their first move is to charge you for their services. Hold on, you say, I didn't order anything from them. Yes, that is correct. Almost. Remember, at the bottom of their page they wrote in very small letters that if you don't cancel their services, they are going to provide them.
And provide they will. First they are going to charge your credit card between $80 and $120, sometimes more. And we are not talking about some fly-by-night operations.
For example, ConsumerInfo.com is owned by Experian, one of the three major credit reporting agencies in the United States. A class action suit against ConsumerInfo.com and Experian alleging 'unfair and fraudulent business practices and false advertising' had been filed in 2004. It didn't stop many others like them from following the same practices.
If you are lucky to spot those charges in time, you can attempt to file a charge-back with your credit card company. It will not be that easy. It is your word against theirs. Those companies can claim that they provided a valid service for you, and for that they are entitled to a payment.
You scream: "What service?!" They respond: "We were watching over your account". There is no point in suing them. They have much more money than you to pay for their lawyers. If you are one of many, you can try a class action suit. But that can take years, and in the meanwhile your money are gone.
It will be much easier to stay away from free credit report offers. Especially from companies you know nothing about. They are not in charity related businesses. When they offer you credit report for free, they will try to make you pay for something else. Don't disclose all your financial information to them. You never know to whom they can sell this information.
Every time, when you get an offer to give you something for free, ask yourself first: "How is this company going to make money? What else will they want from me?"
If you don't find an answer to this question, don't disclose to such a company your credit card details. Their alleged "free help" might end up costing you more money.
To learn more about financial and investment advise and retirement planning visit new Money Management Forum at Wise-Investment.info
Latest News
![]() Sify | Credit Suisse plans 5300 job cuts after $2.5 bln loss MarketWatch - By Simon Kennedy, MarketWatch LONDON (MarketWatch) -- Credit Suisse said Thursday that it will cut roughly 5300, or 11%, of its jobs after posting a loss of ... Credit Suisse Cuts 5300 Jobs Credit Suisse to Eliminate 5300 Jobs After Losses This Quarter Credit Suisse to cut 5300 jobs |
![]() Hürriyet | Investment-Grade Credit Risk Index Rises to Record in Europe Bloomberg - Credit-default swaps on the Markit iTraxx Europe index of 125 companies with investment-grade ratings climbed as much as 7 basis points, and was 5 higher at ... Credit-default swaps soar Credit insurance costs soar to new high RLPC-European secondary loan prices slide to fresh lows |
Washington Times | SEC Approves New Credit-Rating Rules Wall Street Journal - "The big three credit-rating firms have failed investors' and played a significant role in the current financial meltdown, said SEC Commissioner Kathleen ... SEC strengthens credit rating agency rules SEC adopts new rules for credit-rating agencies US SEC strengthens credit rating agency rules |
Avnet, Inc. to Present at Credit Suisse 2008 Annual Technology ... MarketWatch - chairman and chief executive officer Roy Vallee will present at Credit Suisse's 2008 Annual Technology Conference in Scottsdale, Arizona this morning at ... Microchip Technology to Present at the Credit Suisse Annual ... Brooks Automation to Present At the Credit Suisse Annual ... |
OpenClose, MeridianLink Partner to Provide Complete Credit ... MarketWatch - MeridianLink and OpenClose will enable brokers and wholesale lenders to request and access credit information from any Internet connection and deliver ... |
Bad Credit on the Rise: 110 Million Americans Now Affected ... MarketWatch - NASHVILLE, Tenn., Dec 04, 2008 (BUSINESS WIRE) -- The number of consumers with bad credit has risen sharply since 2007, with more than 110 million in the US ... |
Williams-Sonoma amends its credit agreement CNNMoney.com - NEW YORK (Associated Press) - Home-decor retailer Williams-Sonoma Inc. said Thursday it amended a credit agreement and a commercial letter of credit ... |
Nonbank Firms Like Avis Seek to Broaden US Relief on Credit Wall Street Journal - By JESSICA HOLZER WASHINGTON -- Commercial and industrial companies are clamoring for more federal action to unlock credit markets, saying that moves to ... Fed extends key credit programs through April 30 Fed lengthens lives of key credit programs Business Highlights |
Photronics Amends $155 Million Revolving Credit Agreement and ... MarketWatch - Under the amendment, the Company has through December 12, 2008 to finalize revised terms and conditions of the credit agreement. The Company also announced ... |
Egypt's EDB Bank gets $20 mln credit line Reuters - CAIRO, Dec 4 (Reuters) - Abu Dhabi's Arab Trade Financing Programme has extended a $20 million line of credit to Egypt's Export Development Bank EXPA. ... |
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