I recently looked up my free credit report online and discovered that there are several programs that offer it. What he didn’t know were the differences between them. We’ve all seen the attention-getting commercials with the guy in the pirate hat, playing the guitar, driving the clunker. “Because the credit was hit, it’s now going off the lot in a used subcompact.” I am referring to freecreditreport.com ads. A few others have appeared with Ben Stein as the lead, but nothing beats those crazy announcements just mentioned.
What’s in my free credit report? That’s a good question because not all of these offers are created equal. We found the eight best free credit monitoring and credit reporting offers and here’s the lowdown. Only two of the eight actually turned in my three credit scores from Equifax, Experian, and Transunion. The other six only offered a score of one of the three.
Why is it important to know all three credit scores? Banks, insurance companies, mortgage companies, apartment complexes, and even potential employers are looking at all three of your credit scores to determine your risk. The higher your score, the better your chances of being approved for that loan, and the lower interest you’ll be charged. The result can be astronomical when you pay off a mortgage loan over 30 years. Imagine being turned down for a job because one of your three credit scores was low due to errors on your credit report.
All of the deals came with comparable identity theft protection and that’s the kicker here. Haven’t you heard the phrase “nothing in life is free”? Well, it’s partly true here that when you sign up for identity theft protection and credit monitoring, you get your free credit report in return. Identity theft is the fastest growing crime in the world with more than ten million cases reported last year. There is a strong possibility that everyone will be affected by some form of identity theft sooner or later. Thanks to credit protection, I was reimbursed for an $800 charge that someone managed to put on my credit card at a department store. The case was cut and dry as I was in Mexico while someone used a fake credit card with my information in Ft. Worth, Texas. The cost of identity protection is minimal considering the circumstances and consequences of your identity theft. $7.50 per month on the low side to $14.99 for the triple score and premium credit monitoring offers. Check out various offers and find out which one is best for you. You are protected?