FTC Warns 18 Websites for Violating New Rules for Free Credit Reports

This is a great article from creditinfocenter.com, written by Meredith Simonds. I'm glad she's letting the public know about this and I'm glad the FTC is actually doing something useful!

Shannon
(This article was originally linked but links have been removed as requested by creditinfocenter.com, due to Google's webmaster guidelines.  I would still like to give credit where credit is due, so you can still find this article there, you'll just have to copy/paste and do a search on their site)

FTC Warns 18 Websites for Violating New Rules for Free Credit Reports

July 28th, 2010 ·

by Meredith Simonds


Of all the advice for protecting your credit, regular monitoring of your credit report is at the top of the list. It’s so important, in fact, that the federal government requires the three main credit reporting agencies to give you a free copy of your report every year. Unfortunately, many consumers are confused by sites offering these “free” credit reports in exchange for other paid services. The government passed a new law to help consumers out, but at least 18 websites are breaking the rules and the feds aren’t standing for it.
Many websites display ads for people to order the free credit report they are entitled to every 12 months from each of the three credit reporting agencies — Experian, Equifax and TransUnion. However, to process your request, some of these sites require the purchase of other services. Complaints by confused consumers finally led to the passage of a law requiring the following verbiage to appear at the top of any page on which an ad appears for a free credit report:

You have the right to a free credit report from AnnualCreditReport.com or 877-322-8228, the ONLY authorized source under federal law.

Obviously, this is a huge deterrent to anyone who was considering requesting their report through said website. Certainly it will cut into the profits of those that have grown accustomed to making money off services attached to the “free” credit report request. But for those sites that were simply offering a link to a free report as a service to its readers, this new law will only serve to increase credibility.
Apparently at least 18 sites were counting on lax enforcement of the new law, as the FTC recently sent warning letters to 18 websites that have yet to post the required text at the top of the page. The Consumerist lists the sites here.
Bottom line, the safest and surest way to request your free credit report is to do so directly through the only government-authorized website. If you have not requested your free credit report within the last 12 months, you may do so now through AnnualCreditReport.com.