I recently searched for my free credit report online and found that there are more than a few programs out there offering it. What I did not know were the differences between them. We’ve all seen the attention grabbing commercials with the guy in the pirate hat, playing the guitar, driving the jalopy. “Because is credit was whacked, now he’s driving off the lot in a used sub compact.” I’m referring to the freecreditreport.com ads. A few others have surfaced with Ben Stein as the front man but nothing tops those crazy ads we just mentioned.
What’s in my free credit report? Thats a good question because not all of these offers are created equal. We found the top eight credit monitoring and free credit report offers and here’s the skinny. Only two of the eight actually delivered all three of my credit scores from Equifax, Experian, and Transunion. The other six only offered one score from 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 scores the better your chances are of being approved for that loan and the lower interest you will be charged. The result can be astronomical when you amortize a home loan over 30 years. Imagine being turned down for a job because one of your three credit scores were low due to errors on your credit report.
All of the offers came with comparable identity theft protection and thats the catch here. Haven’t your heard the phrase “nothing in life is free” Well its partly true here in that when you enroll in the 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 well over ten million cases reported last year. There is a very good chance that everyone will be affected by some sort of identity theft sooner or later. Thanks to credit protection i was refunded 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 was using a phony credit card with my information in Ft. Worth, Texas. The cost for identity protection is very minimal considering the circumstances and consequences of having your identity stolen. $7.50 per month on the low side to $14.99 for the triple score offers and premium credit monitoring. Check out multiple offers and find out which one is the best for you. Are you protected?