Free credit score offers are popping up all over the internet, but which sites really deliver and which are just out to scam?
Sites like freecreditreport.com and other spin-offs have gained a lot of popularity, and the credit report is free but the score isn't. Another catch, you have to sign up for a credit monitoring service that if not cancelled within seven days you will have to pay for.
Holly Miller with the Better Business Bureau reinforces this, "we found that most of the companies that are advertising to help monitor your credit actually want to do it for a fee." Miller says online credit scams are growing and of the 61–million sites that pop up when you Google "free credit report" there is only one you should go to; annual credit report dot com. Miller says, "it's from the Federal Trade Commission set up by the government to get consumers their credit reports for free."
You will get your credit score for free once a year which is how often you should look at it. Lonnie Knob with Major Mortgage says "if you pull your credit report too many times within a certain period your score will go down." But Knob says an exception to this rule is if you are looking around to try and get a loan, but still you should pull your credit score no more than three times consecutively. Knob suggests "as far as having your credit report checked you always want to check with a reputable lender someone that can go through that thoroughly with you and give you all the advice you need."
So experts beware when pulling your credit online, read the fine print and only do it when you really need to.