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American consumers are urged to review their credit report at least once per year. In fact, every consumer has the right to access their credit report from each reporting agency free of charge once a year. This means every person has the opportunity to pull their credit report three times per year without paying a single cent by visiting www.AnnualCreditReport.com. Reviewing my credit report on a regular basis by checking your online credit report is one of the best ways to spot inaccurate information or signs of identity theft and credit card fraud. With this in mind many consumers are beginning to take the advice of financial experts and stay atop the information that appears on their credit report.

Knowing this, there are companies currently advertising free credit reports to consumers, however they are not truly free. Consumers are confused by advertisements and often sign up for a free credit report only to find out later they have unwittingly enrolled in some other service subscription. As a result several states have asked the Federal Trade Commission to tighten the rules governing the ads that are causing the problems. New York has recently joined these states and asked the FTC to consider requiring all advertisements to include a disclaimer of sorts.

The New York State Consumer Protection Board (CPB) feels consumers are being mislead by the advertisements currently circulating on television and printed publications. They suggest the FTC prohibit the use of the word “free” in these advertisements. They also suggest the addition of language which relays to the consumer the fact that the advertised credit report offer is not the same as the free credit report made available by Federal law.

Unless or until these changes are made, consumers are on their own in spotting misleading advertisements. The best and easiest way to avoid being charged for a free credit report is by not giving any billing information in the first place. Most of these advertisements are offering a free credit report which you can receive after entering credit card information. When you do this, you are enrolling in a monthly service which will be charged to your credit card if you do not cancel within a predetermined period of time. If you come across any company offering a free credit report yet requiring credit card information in order to receive the report, do not enter the information and move on. Remember the free federal website www.AnnualCreditReport.com or call 1-877-322-8228 for your free credit score online.