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Free Credit Monitoring


Lucky
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There seems to be a "legal scam" going on in the credit monitoring business.

 

Over the past several year's I have received letters from several well known financial institutions that I deal with informing me that a computer tape containing sensitive personal infomation has been lost or stolen. To make up for the inconvience I have been offered free credit monitoring from Equifax and Triple Alert, along with other credit monitoring companies. The letter is almost always the same, although two of the letters said a laptop belonging to a consultant had been stolen from the premises.

 

I've checked with some freinds and they have told me that they too, have received these offers from other financial institutions.

 

We've all enrolled in the free credit monitoring service but knowing full well that at the end of our free period we'll be offered the same service for a price.

 

ED

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Freecreditreport.com,(the guy singing the songs) says they monitor your credit. But, in order to get the free credit report, you have to sign up for a monthly fee for auditing etc. Then you can cancel within 7 days and the first report is free.

You can get a free credit report once a year with no strings attached at http://www.annualcreditreport.com

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  • 5 months later...

This free credit report scam is like all the other "free" scams advertised on TV. They appeal to people's wanting to get something for nothing, or put another way, greed. With the credit crunch it was inevitable that companies would want to cash in. But the fact that Experien is behind this scam, and only pays token fines for misleading advertising, is the real scandal.

 

These credit watch outfits, like Experien, Trans Union and Equifax, have the power to destroy people's creditworthiness. IMO they should be regulated much more tightly. This could be another example of the regulators showing up after the damage is done.

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