Getting to the Nitty-Gritty of Credit Reports

We’ve all seen the funny “free credit report” commercials with the young men and women who are either stuck living in their parent’s basement due to bad credit, or working a humiliating job at a local restaurant serving customers in pirate hat due to identity theft. Bottom line: You don’t want to be these people.

Although we will admit, these commercials are good for kicks and giggles, these online credit report providers who claim to be “free” are indeed not. The website contains the following fine print:

When you order your free report here, you will begin your free trial membership in Triple AdvantageSM Credit Monitoring. If you don’t cancel your membership within the 30-day trial period, you will be billed $12.95 for each month that you continue your membership.

While this may be disappointment to all TV-fanatics, there is a solution, and one that we highly suggest. You can (and should) request a free (no fine print included) credit report every 12 months from the following providers:

Equifax Experian TransUnion

While there will be no muscular man with your credit score written on his tight T-shirt, you WILL receive accurate and free information that will be useful in knowing your financial standing.

So, why do we suggest knowing your credit score?

The rates of your mortgages and car loans depend on your credit– the better your score, the lower rates you will receive. Most banks and department stores will run a credit report before you can get approved for a credit card.

In addition, landlords, employers, insurance companies, and even utility companies all use credit scores to help make business and credit decisions for consumers.

To sum it up, this means that your credit is the most important component of your entire financial portfolio. Keeping and eye on your FICO score is crucial; especially if you’re looking to make a major purchase in the near future.

Also read: 5 Reasons to Check your Credit Reports at least once a year!

Leslie H. Tayne, Esq. founder of Tayne Law Group, P.C. (Formerly The Law Offices of Leslie H. Tayne, P.C.), assists consumers and individuals with the resolution of their unsecured debts. The firm’s flexible and well established policies and procedures have helped thousands of individuals lead a debt-free life. Law Offices of Leslie H. Tayne, P.C. has offices in Long Island, White Plains, Mount Kisco and New York City. For more information, call 1-631-470-8204 or visit
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I just wanted to thank your entire staff at The Law Offices of Leslie H. Tayne, for helping me get out of debt. If it wasn’t for your firm, I would have never been able to resolve my $13k worth of debt in less than 3 years. Your staff did a great job, I was finally able to buy myself a brand new car without using a cosigner. I can’t tell you again how happy I am. I would recommend your services to anyone.

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