If you are worried about your credit status and considering
commencing the process of credit repair then one of the first
things you should do is obtain a copy of your personal credit
report. But how will you go about getting hold of your credit
report? You’ve seen offers on the internet about free credit
reports but can you trust them?

The straightforward answer to this question is yes, and no. There
are definitely some important aspects of the offer that you should
understand. The best course of action is to be careful and only
proceed when you fully appreciate what the company is indeed
offering in return for your interaction. As you probably suspected,
the companies making these offers are not doing so out of a sense
of community spirit.

To be blunt, they want your money. The “free” offer is not quite so
simple to take advantage of as it initially appears. The key is to
read the fine print before you begin the process. The normal
process in taking advantage of these offers of a free credit report
is to provide certain personal details and information that looks
and feels like you are in fact being asked to pay for something.
This is because the making the offer is attempting to get you to
sign up to a credit report subscription account.

You get your free credit report. But this is simply a teaser offer.
Without being cynical what the company is hoping is that you sign
up for a trial period, which is free, but then you get distracted
and when the time comes to cancel the arrangement before the first
and subsequent payments are taken out of your account, you forget.

There is quite a straightforward way of getting an up-to-date copy
of your credit report for a very small fee. Direct from the credit
reference agencies. Paying a small fee when you can get the same
thing for nothing sounds unnecessary but in fact the subscription
accounts that the free credit report offer companies would like you
to agree to are in truth very pricey.

In conclucion, if you have a habit of forgetting to do things at
certain times then the best advice would be to request a copy of
your credit report directly from the credit reference agencies.
Should you decide that you would still prefer to take advantage of
the offer for the free credit report, then I recommend as soon as
you have received your report that you immediately cancel the
subscription arrangement that you have signed, lest you forget to
do so later.

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This entry was posted on Wednesday, May 6th, 2009 at 11:13 am and
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