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More News on FreeCreditReport.com…

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OK, OK, I really need to stop beating this dead horse, but in case you needed another reason to not use credit monitoring agencies, here’s another:

http://www.nytimes.com/2010/04/08/your-money/credit-scores/08credit.html

Not only has freecreditreport.com had to pay two hefty legal settlements over the last five years, they are now dancing around new FTC regulations.

The FTC wrote new rules for companies that offered ‘free credit reports’. Websites are required to include a prominent notice across the top of the screen that directs consumers to annualcreditreport.com for truly free credit reports.

Not surprisingly, FreeCreditReport.com decided to start charging $1 for the report to avoid the requirement to put the disclaimer across the top and explained the new charge by saying, ‘due to federally imposed restrictions, it is no longer feasible for us to provide you with a free Experian credit report.’

Really?

Dear FreeCreditReport.com,

How stupid do you think we are?


New Credit Card Regulations? No Reason to Rejoice.

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I was excited to hear about the Credit Card Accountability Responsibility and Disclosure Act of 2009. I thought it would finally give people trying to reduce debt, a real chance at making headway.

Silly optimistic me.

NBC reports new ways credit card companies can sneakily get around the rules and find ways to make paying off debt more difficult.

It’s up to us to keep up with the game.

Read the article here: http://www.nbclosangeles.com/news/business/ConsumerMan__Have_a_credit_card__Read_this-85107382.html


Time to check that credit report…

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Every four months, I check my credit report from one of the three credit reporting agencies. Consumers are entitled to one free report from each agency per year – and I’m not one to let ‘free’ go to waste.

This month: Experian

I discovered the credit reporting agencies are getting a little sneaky. It’s becoming increasingly difficult to navigate these sites to find the free reports. Be careful where you click!