Free Credit Report

Many people may still not be aware of an amendment to the Fair Credit Reporting Act (FCRA) that Congress passed last year. This amendment allows U.S. citizens to receive a copy of their credit report, for free, once per year. The plan is being rolled out slowly in order to avoid swamping the system, but people living in the West and Midwest can receive their credit reports now, and everyone will be able to obtain a free credit report by September of this year. Those seeking a copy of their credit report should watch out, however, as not everyone who promises a “free” credit report is actually delivering one.

These free credit reports may be obtained through the official Website: http://www.annualcreditreport.com. Additional information is available at the Federal Trade Commission Website at http://www.ftc.gov/credit. Obtaining a copy of your credit report through this site is easy, and only requires your name, Social Security number, date of birth, and address. That would seem fairly straightforward, but there are many companies, some legitimate and some not, that are interested in attracting the business of those who seek copies of their credit report, and scams are flourishing.

Some companies have established Websites with addresses that are very similar to the address of the official site. These sites promise a free credit report, but they are actually only interested in harvesting your personal information. In addition to stealing your name, Social Security number and address, these sites may also tell you that a credit card number is necessary to “verify” your identification. With this information, the people operating these sites can steal your identity! There are many other Websites that promise “free” credit reports, but few that actually provide them for free. One such site is currently under investigation for credit report fraud. The site promised a “free” report, but required a credit card for “identification” purposes. Customers filled out the form and received a copy of the credit report but also received a charge on their credit card for $79.

Other unscrupulous companies take a more direct approach by sending spam e-mail that promises to provide free credit reports. These spam messages are almost always “phishing” expeditions that are designed only to obtain your personal information. If you are interested in obtaining a copy of your credit report, you should avoid responding to e-mail solicitations.

It is a rare occasion when you can obtain something for nothing. You can, however, receive a copy of your credit report, for free, once a year. Be aware, however, that not everyone who is promising you a free credit report intends to provide you with one.

©Copyright 2005 by Retro Marketing.

Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.

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It is simply getting ridiculous the charges credit card companies are imposing on consumers who are late making payments. Yes, creditors have a legal right to do what they are doing, however ethically speaking that is certainly open to debate! Let’s look at some ways you can avoid costly credit card late fees:

1. Pay your bills on time. This one is obvious. When you get your bill, open it up and pay it right away. Waiting means forgetting or hoping that your payment arrives on time.

2. Pay online. Paying via your computer is faster than mail services, but there is still some lag time from when you authorize a payment and when the payment is finally credited to your credit card account.

3. Automatic payment. If your credit card provider permits it, have them automatically deduct a set amount from your account every month. That way they’ll get their funds well in advance of their due date.

4. Fight it. Just because the credit card company said that your payment was late doesn’t mean that it was late. Call them up and ask them to reverse the charge — now as high as $39 — and to adjust their records accordingly.

Allowing credit card companies to run roughshod over you is one sure way to worsen your credit card woes. Know your rights and take action as required.

Copyright 2005 — Matthew Keegan is The Article Writer who writes on a variety of topics including: advocacy, automobiles, aviation, business, Christian themes, family, news, product reviews, travel, writing, and more. Samples from his portfolio are available right online.

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Most young people are riddled with free Visa and Mastercard accounts when they graduate from high school and move out from under Mom and Dad’s roof to face the world on their own. When each of my sons graduated from high school and went to college they were peppered with credit card offers, some granting credit lines of up to $1,200.

Thinking that having their own credit card was some sign of success or free license to buy the electronic wonders and clothes of their dreams, they maxed out their credit limits in no time. All without dear old Dad’s knowledge. Thus, began their download spiral in the quicksand pit known as credit card hell.

Being someone from the old school, having grown up poor in the 1950’s and 60’s, I was taught that good credit was a prized possession you earned and never let go of, even if you went without eating. I witnessed the plight of living a bad credit life first hand, seeing my father have not one, but two new automobiles repossessed when his job played out and he couldn’t afford the car payments any longer. Being forced to earn a living and take care of the daily grind and routine of running errands, going to school, etc. without a car was not only difficult, it was embarrassing for me as a kid and very humiliating for my Mom and Dad. I made up my mind then and there that when I grew up I would keep my credit rating impeccable and first rate at all cost.

I’ve been lucky in life, not having to live long periods of time without a job as my father experienced. I’ve had a great career and have always been able to meet my credit responsibilities. When my boys were little I oftened worried that when they saw me paying for a nice meal or buying clothes with a credit card, it might not occur to them that despite how simple buying with plastic might appear, it was really being paid for with my hard earned money.

I grew up being taught that it was important for my sister and I to have more than my Mom and Dad. Thus, I raised my sons the same way, frequently buying the latest video games or seeing that they were always dressed in accordance to the latest fashion trends. And despite my efforts to teach them the value of saving money and keeping good credit, both continue to function without a bank account and neither one has the first clue about how to balance a checkbook. I’m told I’m an old fogie and don’t understand that young people don’t use checkbooks anymore.

In reality the problem is really one of their own. They’re too lazy and careless to listen or practice the life one must live to be successful financially. It hurts to see them live the way they do, but unfortunately its a life too many young people are experiencing these days.

And guess what, the big banks that gave them the free credit cards don’t even care. They quit hounding them for the money a long time ago. Being concerned about how they were somehow tarnishing my family name by not honoring their debts, I foolishly paid off their balances 3 times — only to see them request another card and run their debt up again. After 3 times I said “no mas” and quit taking care of their credit responsiblities.

But the big banks and credit card companies that gave them credit without running credit checks, without regard for the fact they had no money or no jobs at the time they gave them credit cards, simply makes up for their losses by charging the good paying clients like you and I higher interest rates. This is why interest rates on credit card debt is so high in America, its built into their marketing system. It’s just a numbers game. Give out a 1,000 cards to a 1,000 different young people, knowing that only 10% to 15% will honor their debt but they’ll have them on the hook for many years, and make up for their losses on the ones that do hang on by charging high rates.

My advise to young people is that if you’re not going to listen to Mom and Dad, at least go to a good credit information site like All-Credit-Info.com and educate yourself about credit and the importance of good credit before you get yourself in debt. And, if you’re already in debt and needing to clean up your bad credit, visit these information sites to learn how to clean your credit up without it costing you an arm and a leg.

It never seems to amaze me how we parents never become brilliant in the eyes of our children until they have gone out, tested and failed at everything we’ve warned them about for years. As a young man once said, “it’s amazing how smart my Dad became after I turned 21.”

Craig Whitley (see http://www.craigwhitley.com) is a freelance writer that frequently writes about the Internet, consumer trends and online business practices. He specializes in finding and writing about small niche websites like http://www.all-credit-info.com that provide consumers useful free information about important topics and issues.

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