What the heck is a FREE credit check?

[onfire]

Why is it when ever I turn on the tube I here about a freeeeeeee credit check? Can any buddy tell me why I need a credit card, I cut mine up 8 years ago an I'm doing fine whats the big deal I totally believe CASH is king and GOLD is even better, If I have to fly or rent a car I have plenty buds who do it for me, otherwise who needs one?jm

 

Amazon Forum Fav 👍

Cry Of The Eagle: History And Legends Of The Cherokee Indians And Their Buried Treasure - Grab it through Amazon!

[mrs.oroblanco]

You are entitled to a free credit check once a year.

It doesn't hurt to make sure that someone hasn't gotten that old number, or - like in my case, had a Sears Account in my name, my social security number - but a different address.

Never knew it was there until someone talked me into getting a free credit check. Apparently, someone had stolen my mail, that had a credit offer from Sears - back in 1968, and had it, along with 2 others, for 20+ years. (luckily for me, she actually PAID the credit cards).

It can even tell you who has been looking you up (inquiries).

B

 

[Jimmy(PA)]

Credits cards are nice in case of emergencies and as long as you pay off the balance at the end of the month you wont be charged interest. Another benefit is many offer perks like free vacations and cash back so basically as long as you dont carry a balance you get free gifts for using them. Plus they help with your credit score.

 

[mrs.oroblanco]

Jimmy(Pa) is right on that, for sure.

I hate credit cards, but we each have one. Without one, if you go on a trip and your car breaks down - you don't get to rent a car without one.

And, always pay off the balance within the allotted time before interest charges are added. (approximately 18-28 days, depending on the card and the time of the month when the charge was made).

B

 

[Monty]

If you sign up for a free credit check, the small print commits you to so much a month to receive any others. You have to be real careful and read everything, much like any of the hundreds of pop up ads you might encounter. There was an ad on TV a few days ago that advertised a rechargeable hearing device for $14.95. But when you look on the net, the $14.95 is just for a 30 day trial. Then you have to make monthly payments amounting to a couple hundred dollars. That is in very small print and if not careful you will get stuck since they will have your credit card #. You have to be really careful. Monty

 

[BIG61AL]

free credit......that's an oxymoron

 

[deepskyal]

You are entitled to a free credit check once a year.

It doesn't hurt to make sure that someone hasn't gotten that old number, or - like in my case, had a Sears Account in my name, my social security number - but a different address.

Never knew it was there until someone talked me into getting a free credit check. Apparently, someone had stolen my mail, that had a credit offer from Sears - back in 1968, and had it, along with 2 others, for 20+ years. (luckily for me, she actually PAID the credit cards).

It can even tell you who has been looking you up (inquiries).

B

If you sign up for a free credit check, the small print commits you to so much a month to receive any others. You have to be real careful and read everything, much like any of the hundreds of pop up ads you might encounter. There was an ad on TV a few days ago that advertised a rechargeable hearing device for $14.95. But when you look on the net, the $14.95 is just for a 30 day trial. Then you have to make monthly payments amounting to a couple hundred dollars. That is in very small print and if not careful you will get stuck since they will have your credit card #. You have to be really careful. Monty

Having bad credit ratings can affect you in multiple ways. Higher insurance rates, higher interest rates on auto and home loans...if they even give you a loan, it can even affect your job prospects.

Like Mrs. B. pointed out, you are entitled to one free report from each of the big 3 reporting agencies. And believe me, they don't all contain the same info. You don't have to go to those places that advertise and stick you with hidden costs.

Straightening out errors can be a long, painful process...if you can get it straightened out at all.

In case you didn't know...all the agencies are based in India now...isn't that nice to know another country has all your personal information?

Al

 

[mrs.oroblanco]

What Monty said is true - for some of them - so - definitely look at what you are doing.

But, then, some of them have small print that say you can get one free credit report and then you have to cancel before the 2nd month comes around - in other words, a lot of different places out there, but you can write a letter to the 3 yourself, ask them each for your yearly free credit report WITH FICO (make sure you sign your request).

Also, deepskyal is also right - they don't all say the same thing. One is the more incorrect, incomplete and hard to fix of the three (Equifax, TransUnion and Experian) - which will be easy to pick out, because there's will have a lower FICO than the other two.

Even employers check your credit score now before they hire you.

I suggest you know for yourself what other people are seeing, people can run your credit without you knowing they are doing it.

B

 

[Noodle]

This is over-rated and a scare tactic. Do one of the free credit checks, there are several you can go to to do this.

When you go to the 'free' checks, you will see what's on file for your credits, but you won't see your 'credit score.' If you want to see that, you'll have to pay them $$ to see it.

The only way I've been able to find out my 'credit score' is to apply for some credit with a friend who is in the retail market. Simple. Apply for a credit account and let them tell you what your credit score is; push them.

The "credit score" is a political thing. Don't put any faith in it. They change the scoring rules every day.

If you pay your credit cards and mortgages and utilities faithfull each month, you'll have a great credit score. But check it monthly to be sure you're not being ripped off.

Noodle

 

[BuckleBoy]

Who needs a credit check? 


Folks who would like to know that some JERK in the Philippines hasn't opened up 5 credit cards in their names. 



Who needs a credit card?


Anyone who is not 100% certain that they will Never Ever fall on tough times due to an emergency.



Who needs to worry about their credit rating?


Anyone who needs a loan--car, house, or otherwise!




Now while I think this credit rating Crap is the biggest boatload of BS I have ever seen, unfortunately it is the way credit is run in this country.  Play by their game or sell all your finds to pay for something. 



The worst thing is the overspending that credit creates.  In that regard, Cash IS King.  Only buy what you can afford. Plain and Simple. (But you still won't catch me on a trip Anywhere without my credit card on me, just in case.)



-Buckles

 

[mrs.oroblanco]

You CAN get both your credit report and credit score - for free.

I like True Credit.

http://creditreport.truecredit.com/...=2204&kw=377&gclid=COXo07DY75kCFQNbxwodoDWYTQ

Make sure you cancel before the end of the trial if you don't want a monthly fee. (and they give you all 3 scores).

I know some others do also, but this is the only one that I have done it with.

B

 

[mrs.oroblanco]

I did do the individual one, one time - they would not give their credit scores, so that's why I did "TrueCredit" (but I did read the fine print, so had no issues).

The nice thing is, once a year, I do it again - and once you have an account, you don't fill out all the stuff again, you can do another free trial.

Are the credit bureaus giving out the FICO's now?

B