Are Free Credit Scores Really Free?

 Are Free Credit Scores Really Free?

 

Anyone who is financially responsible knows how important it is to be aware of their credit score. There are websites all over the Internet that claim to provide free credit scores. The question is, are there free reports truly free? The answer is that sometimes free credit claim   they are and sometimes they are not, so it is important to pay close attention.

The truth is that, with most companies offering a free credit report, there is a catch. Customers usually get the first report for free with the understanding that they are signing up for a monthly credit monitoring service. It is possible to get the one free report during the trial period, but customers must remember to cancel before the trial period is over or they will incur charges for monthly credit tracking.

Although it may not be an expense that many people are willing to pay, there are benefits to subscribing to this type of credit service. It is a great way to stay protected against identity theft since customers are alerted anytime anything changes on their credit report. It can also be a great tool for someone who is trying to improve their credit score and wants to keep a close eye on it.

There are still options for people who want a credit report that is truly free. If someone gets turned down for a loan or line of credit, they are entitled to a free credit report from the bureau that gave the negative feedback. On the letter they receive informing them of their declined credit application, there should be information about how they can obtain this free report.

It is not necessary for someone to have a bad financial experience to get a free copy of their credit report. Everyone is entitled to one free report each year from each of the three major credit bureaus. Many people do not know this, however, and they end up paying for something that they are entitled to have for free. Instead of making that mistake, someone who simply wants to look at their credit report once to check up on it should take advantage of their free annual report.

There are many services that claim to offer free credit scores and some of them are legitimate. Some of them, however, are not and it is important for customers to read the fine print carefully and tell the difference. Unless someone wants to monitor their credit monthly, there is no reason that they should pay for something they can get for free.

 

 

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