Rough start for free credit report law Posted by ayusra at 09/06/05 02:10 PM

As of Sept. 1, any of us can get a hold of our credit reports without paying a penny. That’s the good news. The bad news is that there are enough flaws in the system to make many folks give up before they get what they need.

A friend of mine just tried getting her report online through TransUnion one of the three national credit reporting agencies. That turned out to be a mistake. First, she got a message that the company couldn’t release her report due to security reasons. Then she called the company but found no one to talk to. A recording told her she could only get her report through the mail. But when she tried to file a complaint about it online, she was told to write a letter to complain! Yep, that’s three strikes … you’re out!

My personal experience with another company, Experian was a lot smoother although I found it a bummer that the law allows these guys to charge an extra fee for us to get our credit scores. If they’re gonna take us that close to the promised land, why not deliver us?

Another big gripe: If you don’t speak English as your first language, you’re basically out of luck. The law allows the agencies not to provide any of their materials in Spanish or any other language, and they are quick to pass the buck to Congress for this and leave it at that.

Maybe when enough of us complain, they’ll get their act together. In any case, the intent of the law is a good one and despite the need for fine-tuning, it’s a good first step. Our credit is too important for us not to take advantage of this freebie. If you haven’t done so already, get your free report today.

comments (5)

1 Posted by citizenactivist at 09/08/05 01:28 PM

I don't understand why this is advertised as a "free credit report" and yet they charge a fee. Either it's free or it's not.

How much is the fee by the way?

2 Posted by Amanda at 09/26/05 12:01 PM

I've heard that if you check your credit report often, this affects your credit negatively. Is that true? It doesn't make any sense to me. If the information is mine, it's about me and I'm curious about it, then why am I penalized for checking it as I please?

3 Posted by Kathy Watkins at 10/05/05 03:10 AM

I must say that the effort to educate people about their credit reports has been very successful. Everyone I know is now aware that they can now get a copy of their credit report (although not everyone has done it yet.)

The consumer groups who made this happen really deserve our thanks.

4 Posted by LupusHurts at 10/05/05 08:00 PM

In regards to Amanda's question, I have been told officially that it does not affect your credit rating but a friend of mine owns a mortgage/loan co. and she said EVERY time your credit or your score is checked {by anyone, your car insurance co., applying for a new cc or loan, etc.}it DOES indeed lower your score; she has seen it happen over & over as she checks & rechecks scores.

5 Posted by Sadhra at 06/08/06 10:33 PM

here it says http://www.moneysavingfreetips.com/trw-free-credit-report.html you can get a free credit report if you fall into any one of those criteria... anyone ever gotten a free credit report?

how did you go about the process?