Here’s something you might not know about freecreditreport.com: It’s Experian in disguise, trying to generate more profit from consumers.
The following quote is from: Fair Credit Reporting Act: How It Functions for Consumers and the Economy
“Ironically, all three agencies market products with ‘identify theft’ insurance to provide attorneys fees and expenses necessary to obtain the correction of their credit reports from those same agencies. Thus, consumers are faced with what can fairly be described as credit extortion. Consumers are told to buy the CRA products or else remain in fear that they will be inaccurate and full of fraud.”
If you have the time, I highly recommend you read the entire report. It seems the more I learn about the whole credit business, the angrier I become. If everybody knows that most credit reports contain errors, and getting those errors corrected is so time-consuming and difficult, then why are banks and employers and landlords still basing their decisions almost entirely on these reports and scores that are more likely to be wrong than right? I guess it’s because they don’t have many other options.
It seems like this shouldn’t be so difficult to get right in the electronic information age.