Yearly Free Credit Report Ftc
2010
Free Credit Bureau Reports – As Good As Paid Options?
The Federal Trade Commission mandates that everyone be entitled to one free copy of their credit reports each year.
In addition to the FTC mandated free credit report, many third party companies for formed to provide consumers with the tools they need to interpret and manage their credit ratings.
Paula de la Torre Editor of the “Best Credit Reporting Services” website — http://www.BestCreditReportServices.com — pointed out;
“… Most of the companies that provide credit management services provide quick access to your free report, while bundling it with a free or risk free trial offer to their pay service. Pay services commonly offer identity theft protection, multiple annual credit reports (at a discount to what the individual agencies charge for multiple copies), credit management tools, help re-building poor credit, and credit maintenance programs…”
While the information contained in your free credit report is the same whether you request it from the FTC, from a third party service, or from the agencies themselves, it is important to understand that most consumers should look at their report more than just once a year.
Credit reporting agencies update their files monthly with payment histories, credit applications, and other information an annual glance at the report provides the consumer with nothing more than a cursory overview of their credit profile with no real context.
“… Credit management services can provide valuable context to the free report while offering help with individual goals. By providing current credit reports to their clients throughout the year, these services enable individuals to keep a clear picture of their debt and correct potentially damaging situations before they get out of control. Is your credit better than last year? Is your debt load negatively affecting your scores? Has anyone tried to access your account fraudulently?…” P. de la Torre added.
The biggest difference in requesting a free annual credit report from the FTC or a third party service is that the government program is a no-frills service, while the third party offers often provide ongoing support as you work with your credit. The free report provides a single snapshot in time. Credit management companies help put credit scores in perspective, while allowing the individual to set and track their financial goals.
Further information about how to get a detailed credit report including scores and as often as you want by visiting; http://www.BestCreditReportServices.com
About the Author
Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.
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