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Deceiving Advertisement on Credit Report

By Faye Mergel
Published: Saturday, July 3rd, 2010

bca10642-07To fully arrest problems that may arise from Credit report Services offered by many fake Credit Reporting companies all over the internet, the 3 major players in Credit Reporting together with their web site urges customers to obtain their report from them which may save them cash instead. Relying on the advertisement of these agencies will only create more problems because their advert is most of the time deceiving they claimed.

The misleading way of plugging in the internet angered several customers wanting to check their Credit report status. They said that they have the right for free Credit Score at least once a year as stipulated in the Fair Credit Reporting Act (FCRA). However, this seems not the case as there are many Reporting agencies found in the internet posting as the real one to confuse consumers.

It was learned from other customers that they were lured by some Credit Report agencies claiming to be legit and can provide their client’s Credit report fast and “free” but only to find out they have to fish out cash from their wallet at the end. Often times, customers are presented with other services which come with the Credit Report for free to convince customers but which is not actually free because Report is tied up with other services which a customer need to pay after a short day trial. What is worst is that the said fee is paid monthly and if you do not ring the agency to cancel their service with you, the fee which ranges from $15 to $35 will go on for the coming months.

In one article posted in the internet, customers are already in a dilemma as to where to obtain a Credit report which is really free of charge. For this reason, the Federal Trade Commission through the CARD Act of 2009 amended the Free Credit Reporting rule to demand those companies offering free advert to disclose fully that reports they issue is not the legit free report that comes from the 3 major Credit Reporting Bureaus. This way, it is understood that it is not the mandated free Report and so the decision to continue with the service is left to the customer.

The 3 major companies then advised individuals that they can order a free Credit report from the 3 major companies, Experian, Trans Union, and Equifax who are said to be responsible in an individual’s debt history and consolidate all reports coming from different banks and other agencies.

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