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Why aren't credit reports free?

  1. Sunnyglitter profile image83
    Sunnyglitterposted 7 years ago

    Why aren't credit reports free?

    Yes, I know you can request a free one once a year or whatever...but they should be free every day. I deserve to know how high or low my FICO score is and who I owe money to. It's MY credit. I should have access to it anytime I want. Somebody please explain to me why people get away with charging us to view information about our own lives.

    Sorry.  Didn't mean to go off on a rant there.

  2. kschang profile image89
    kschangposted 7 years ago

    Cost money to keep all that history and tabulated.

    You can get one free from EACH of the 3 credit bureaus per year, so what you do is rotate in period of 4 months. January, request from one, in May you do the next one, and in September/October do the next one.

  3. Dave Nelson profile image56
    Dave Nelsonposted 7 years ago

    Federal Law has mandated that you can get one free credit report a year from any credit bureau.

    The ONLY website to go to get your free credit report is:

  4. robschwenck profile image57
    robschwenckposted 7 years ago

    Because in the negotiations between lawmakers and the rating companies, the compromise between one side demanding openness (lawmakers) and the other side insisting on proprietary secrecy (the companies), the companies picked up the bill for...well, everything and the lawmakers decided once a year was good enough for you.

    Never mind that the companies have been using our social security numbers as identification.

    But it seems to me that a successful business model could simply be to charge to make changes to your report...but then the companies have no interest in getting the data right the first time.

    The whole system's crap anyway.