New Rules for “Free” Credit Reports

In 2003, the federal Government required the three national credit agencies to establish a website where consumers could download their credit reports free, once a year. Unfortunately, the Government foolishly allowed the agencies to include advertising on the site, www.annualcreditreport.com. The agencies’ advertising confused consumers into believing they had to pay for a credit score or credit monitoring services to get their free report. The three agencies also set up their own “free” sites where consumers could download their credit reports. For example, Experian’s site, www.freecrdeditreport.com, was heavily advertised on TV and purposely designed so consumers thought they were going...

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