Freecreditreport.com is a web site designed by one of the major credit bureau agency in United States of America, which is known as Experian and the two other major credit bureau agencies of United States of America are Equifax and Transunion. This website gives you two options to access your free credit report:
If you do not want to subscribe you will get your free credit history in two days, however the credit scores are not a part of it. If you take the subscription then you get access to your credit report and credit scores instantly, based on which you can find out what things affects your scores to increase or decrease and you can also get alerts for the same.
Please do not get confused by the name and do not think that it is the same site as annualcreditreport.com, annualcreditreport.com is a site operated by the United States Government. As per the Fair and Accurate Credit Transaction act also known as FACTA. A law was passed in the year 2003 that a consumer should get at least 1 credit report from all the credit reporting agencies every year. This rule was passed so that the consumer can check whether the information with all the credit-reporting agencies is correctly updated and there are no fraudulent activities like identity theft.
When you subscribe to freecreditreport.com:
-
You can access your free credit report provided by Experian unlimitedly.
-
You get access to the free credit report and credit scores by all the 3 credit bureau agencies every ninety days.
-
Credit monitoring and alerts are on a daily basis and score monitoring and alerts are provided once every two months.
-
You get support to resolve any fraud issues on your credit report and
-
Guarantee for the product, which is not applicable for the people residing in New York as per the state laws.
Many of us will be thinking that if an individual orders a credit report it will have an impact on their credit scores, but this is a myth as getting their own credit history as a soft enquiry on the credit report will not have any impact. The soft inquiry can be done for verification purpose by the property owners, us and even the bank can use it to verify you. Hard enquiry is something, which affects the credit scores and even shows up on the credit history. This is generally done by the lenders. It means that hard enquiry should be as low as possible.
People who have a credit card can currently purchase the freecreditreport.com membership. The charge of $1 will appear on your credit card statement. It is very important that you remember that this service is free only for the first 7 days after which the monthly fee will appear on your credit card provided by you at the time of enrolment and will not be refunded. Many customers forget this period or are not aware of it as it is written or shown in very fine print. They realize this after a month or two or even after a year and many a times they have forgotten that they were on any such website or signed up for something like this. Therefore, they claim it as fraud, which may be the case many a times but it does not mean that fraud does not happen. People give someone else’s card information and get a credit report as well.
The main idea about freecreditreport.com is to let you know about what is happening with your credit scores and what is being reported to the credit reporting agencies.
