CreditReport.com Credit Monitoring Plan Review

If you are planning on applying for a mortgage, taking out a loan, or even looking to rent an apartment, the first thing you should realize is that someone will be looking at your credit report to determine whether you are qualified. A good credit score – the numerical calculation based on the information in your credit report – tells lenders and others whether you are a safe risk. A high (good) credit score means lower interest rates and welcoming landlords, while a low credit score could leave you out in the cold. To avoid unpleasant surprises and possible disqualifications, you should know your own credit score before you let someone else base your future on it. If you have a good score you can proceed with confidence and make sure you get the favorable terms you deserve; if there are marks against you – whether legitimate or as the result of identity theft and fraud – you want to know beforehand so you can take action to fix the problems.

CreditReport.com, above all else, is a Web site with a wealth of information – both for free, and for a fee. There are two areas of information CreditReport.com provides for a fee: 3-bureau credit monitoring and credit score tracking; also, 3-bureau credit reports.

For a flat fee of $19.95, CreditReport.com will provided you with your credit reports, as maintained by the three credit reporting agencies, Equifax, Experian, and TransUnion. You’ll also see how those three reports each translate into your credit scores. Keep in mind, of course, that every consumer is entitled to these reports for free once a year directly from the reporting agencies.

If you mainly just want to see your credit scores, CreditReport.com offers an opportunity to see them for free. You are only required to register for a free 7-day trial of their credit bureau monitoring and credit score tracking service. Of course, you’ll need to cancel the service within the first 7 days to avoid being enrolled in the service at a cost of $14.95 per month. While enrolling is a simple matter performed on the Web site, to cancel you’ll need to call their toll-free number.

All of the above services and practices are fairly typical of businesses offering these products. Some, of course, go farther and provide experts to help you deal with the information you receive – whether correcting misinformation, combating identity theft, or debt repair and counseling. CreditReport.com doesn’t provide these services. However, when filling out your registration for either of these services, you’ll be asked why you are interested in acquiring this information. For instance, is it to check accuracy? To combat identity theft? Shopping for a mortgage? Depending on how you answer, the information you provide to CreditReport.com will be forwarded to third parties specializing in these areas, who will then solicit your business.

As a further inducement to shop for services here, CreditReport.com does excel at assembling a wealth of information and news covering topics related to credit and identity theft. They even offer free Credit Score apps for your iPhone and iPad through iTunes.