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How to get your free government credit reports

 

(c) Copyright 2006 by Timothy Thriftwood

Did you know that Uncle Sam has allocated a Credit Report about you, for you, at no charge whatsoever, every single year?

It’s true. Don’t waste your time on one of those online companies that claims to give you your free Credit Report and then wants to charge you money for it… The government says that you are entitled one for free every year anyway!

On top of that, you’ll have a chance to get another copy of it anytime that you’ve been denied for credit… They have to give you a free copy whenever that happens, too.

So why is it that so many companies out there can get away with offering to show you your free Credit Report and score when they usually are just trying to sell you something?

Mainly because the whole credit reporting industry is still pretty new and quite a mystery to most people. Only 50 years ago we didn’t have any credit reporting agencies, so getting credit was a matter of having your creditor call your bank and other past creditors you’ve had and asking them on the phone how big a credit risk you are! Nowadays, we have both the blessing and the curse of the big three Credit Agencies, which are there to help us, despite how it feels.

Let’s not overlook the fact that it’s a complicated industry, too. The government has to intervene in order to protect consumers, just like they do with mortgage lending prices. Government red tape will always mean that the populace won’t usually attempt to try to learn about an industries’ inner workings.

So with any new industry, you’re going to get your con artists, snake oil salesmen, and flat-out liars. It really shouldn’t be surprising in our modern internet age to see people taking advantage of the public’s lack of knowledge on how this industry works.