FREE Credit Report Offer - Careful, It Might Carry Hidden Charges

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

---

Five Reasons to Repair Your Credit Score - You Can Do It Yourself

There are multiple reasons that tell us why we should... Read More

Discover the Parts of a Credit Report and What They Mean

So you ordered a copy of your credit report to... Read More

Student Credit Cards

STUDENT CREDIT CARDS With graduate debt averaging... Read More

10 Ways To Protect Your Financial Identity Being Used For Someone Else?s Shopping Spree

Someone impersonating you could be spending your hard-earned money.Impossible! Not... Read More

7 Ways To Squash Identity Theft

It is the scourge of our age: identity theft. Thieves... Read More

Convenience Can Be Costly

You've just opened your credit card bill and attached to... Read More

Triple AAA in 30 Days

Have you ever wonder about how to get good credit... Read More

Good Credit -- Essential for the Prospective Home Buyer

Credit is a funny thing. It can be a useful... Read More

How To Repair Your Credit Report

A credit report is run on a buyer when he... Read More

Dont Dig Your Own Pit

If you want to enjoy your life out of spending,... Read More

A Summary of the Fair Credit Reporting Act

This summary of the Fair Credit Reporting Act will explain... Read More

Automobile Credit Report

When applying for a loan to purchase a car, the... Read More

Understanding Your Rights Under The Equal Credit Opportunity Act

It wasn't all that long ago that lenders blatantly discriminated... Read More

Credit Card Companies Are Out for Your Money

You're probably thinking "Tell me something I don't know" but... Read More

How To Prevent Fraudulent Credit Card Transactions

What Are Possible Signs of Fraudulent Transactions see at Web... Read More

Credit Report Hassles

There is no end to the amount of pain that... Read More

The Advantages of Credit Cards

There are many evils associated with credit cards, but there... Read More

Common Credit Score Myths

A lot of credit score myths about fico score ratings... Read More

Addressing Bad Credit Card Debt

Spending HabitsSo you've just got your credit card. The first... Read More

Have You Checked Your Permanent Record Lately?

As a young student I feared getting bad grades because... Read More

Bankruptcy Myths Busted

The average American knows very little about bankruptcy. Most people... Read More

Manage Your Credit Wisely

Getting your first credit card is a big deal and... Read More

Top 5 Credit Misconceptions

We have all heard the rumors?from neighbors, relatives or friends.... Read More

How To Save Money On Credit Cards

Some credit cards offer a cash advance option. But how... Read More

Credit Card Disclosure Table ? Do You Understand It All?

In addition to the APR (annual percentage rate) and the... Read More

Credit Card Benefits and Drawbacks

Credit cards have both benefits and drawbacks. It is wise... Read More

Is Plastic Making You Happier?

If you're like most people, you probably own at least... Read More

What is a Credit Report?

Ever wondered what is a credit report? If you've ever... Read More

Beware of Bogus Credit Repair Companies!

So-called "credit repair" companies claim they can remove negative information... Read More

Which Citi Mastercard Is Right For You?

You've decided to apply for a Citi MasterCard, but with... Read More

Avoiding Credit Card Traps

The next time you open your credit card statement, take... Read More

Looking for that Low interest Credit Card?

If you have been shopping around for a Low Interest... Read More

Identity Theft ? Monitor Your Credit Report

The recent security breach at credit card processor CardSystems Solutions... Read More