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Is This FreeCreditReport.com Deal Legit? -- plus -- Can I Get A Free Credit Report If I'm Unemployed? -- plus -- Where Can I Find The Best Deals On Charge Cards? -- plus -- Now You Can Listen To Ben's LA Radio Show Via The Internet -- plus -- The Best/Smartest Ways To Get To The Airport
November 15, 2001
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Dear Ben: I keep hearing a company advertise that they'll give me a copy of my credit reports for free; is this legitimate?
Bobby in Dana Point, CA
Dear Bobby: It's up to you to define the term legitimate. Do they deliver on the promise of a free credit report? Yes, but be careful. I know it's an over-used reminder, but once again: "If it sounds too good to be true, it probably is." There are two potentially-costly potholes that consumers biting on this offer need to be aware of:
- Right out of the cyber-chute, they'll try to sell you a "comprehensive, detailed credit information (report) in one document" that includes "immediate access–viewable online in 60 seconds" and a "credit report key with helpful and thorough explanations". This special $10 off opportunity sells consumers a "merged" report (one report with information collected from all three major credit reporting bureaus) for $29.95. Personally, I've never been a fan of merged credit reports. I think it's smarter for consumers to obtain a separate report from each credit bureau and then challenge the validity of the information reported by each bureau.
- The big hook they use is the highly-promoted "free" credit report. In order to get yours, be prepared to give the company a valid credit card; they need the credit card to charge you $79.95 in the event you "forget" to cancel the credit monitoring service within the "30-day free trial" period (the clock begins ticking when you sign up for the free report).
Would I use this service? No. Should you? Being informed will help you make the best personal decision. Besides, many consumers are already entitled to free reports under certain circumstances; for more information:
www.bendover.com/creditreporthelp.asp
Dear Ben: Two questions...Where can I find information on best secured credit card deals? And I've been told that I can get a free credit report if I'm unemployed. True?
B.J., via e-mail
Dear BJ: For all plastic charge card-related questions, try www.cardtrak.com. It's a pretty good one-stop-shop for comparing all types of credit/charge/secured card offers. And the answer to your second question: No, not true, with a modifying exception. If you have been declined employment by a prospective employer in the last 60 days (or credit or insurance coverage), then you're entitled to a free credit report from the credit bureau that reported the information. Everyone should review their credit reports from each of the major, national reporting companies (Experian, Equifax and TransUnion) at least once a year anyway. If you are:
- Contemplating buying or re-financing a home (a great idea with interest rates as low as they are)
- Thinking about buying or leasing a vehicle
- Seeking employment
- Attempting to obtain any type of insurance coverage
...it's a good idea to know what's on your credit reports so you've got time to correct the information ahead of time:
www.bendover.com/creditreporthelp.asp
Dear Ben: You mentioned in one of your columns something about your radio show; are you back on the air in North Texas?
Chris in Fort Worth
Dear Chris: My radio show returned to the airwaves of Southern California on the #1 talk station in Los Angeles, KFI/640AM in July. It's not available over-the-air in Texas (yet) but thanks to the technology of the Internet, everyone can listen to the show (and even call in toll-free) anywhere on the planet:
www.bendover.com/live.asp
Dose of Dover For The Week: The increased level of security at local airports is going to make your planning for holiday travel more important than ever. If you haven't been to the airports lately, don't be shocked to find a slew of one hour parking spaces off limits...for now, anyway. I'm doing a special report on getting to-and-from the airports with the least amount of brain-damage next week on "News 8 At 9/Good Morning Texas" (weekdays from 9-10 am on WFAA-TV/Channel 8) but in the usual Dover spirit of giving you information in time to use for Thanksgiving travel, I've posted my show notes and comparisons on my site now for your perusal. I figure by letting you have access to this information ahead of pre-Thanksgiving scramble, you'll have a better chance of less stress this year:
www.bendover.com/parking.asp
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