How to Check Your Credit Report for Free 3 Times a Year
Advertisement
After the TSP, I invest my money in Betterment and Vanguard. I track all of my investments with Personal Capital. I also wrote a short, 2 hour book summarizing this site. You can buy it here.

The last time I watched cable (probably in an airport while I was travelling, I don’t have a TV or cable at home) I saw that freecreditreport.com was still doing those commercials with the annoying catchy jingles. While they may be dominating the airwaves and cable market, they actually don’t provide a free credit report. See the disclaimer at the top of their website:

When you order your $1 Credit Report and Score here, you will begin your 7-day trial membership in freecreditreport.com. If you don’t cancel your membership within the 7-day trial period*, you will be billed $16.99 for each month that you continue your membership. You may cancel your trial membership anytime within the trial period without charge.

How many people do you think they get to pay $192 a year to “monitor” their credit report? Far too many, based on the number of ads they can afford to run on CNN. In fact, people have been deceived so often that the FTC set up a website to set the record straight:

The Federal Trade Commission has received complaints from consumers who thought they were ordering their free annual credit report, and yet couldn’t get it without paying fees or buying other services. TV ads, email offers, or online search results may tout “free” credit reports, but there is only one authorized source for a truly free credit report.

So how can you check your credit report for free? By going to the only legitimate credit report site: https://www.annualcreditreport.com/

Here, you can get reports from the three major credit card bureaus (Experian, Equifax, and TransUnion), once a year, as required by the Fair and Accurate Credit Transactions Act (FACT Act) passed in 2003. A credit report

Okay so you can get your report once a year for free, but how can you check it three times a year for free?

By only checking 1 bureau every 4 months. Setup an alert in Google Calendar or whatever scheduling/calendar program you use for January 8, May 8, and September 8. Call each event a different credit bureau. Then, make the events repeat annually. Like so:

You can have it email you as well to remind you to get it done (part of automating your finances, something I’ll be writing about soon).

And that’s it. Using a simple calendar/time hack, you can keep an eye on your credit report throughout the year for exactly $0. And that’s really the best price, isn’t it?

2 Websites I Use to Achieve Financial Independence

The best way I know to achieve financial independence is to keep your investments simple, diversified, automatic, and low-cost. Costs eat into your returns like you wouldn't believe! A 1% difference in expense ratios can mean $100,000s lost to fees over a lifetime of investing.

Even if you're a DIY (do-it-yourself) investor like I am, you need to check out Betterment. You can read my full review here, but the bottom line is for only $250 per $100,000 invested (0.25% expense ratio) you get simple, diversified, and automated investing. In addition every account now gets free Tax Loss Harvesting+ features, which should increase returns for the average investor more than the minuscule management fee.

If you're not a DIY investor or are just getting started with investing, then you definitely need to check out Betterment. It's what I recommend to my family and friends who aren't strong investors or don't care to learn about asset allocations, diversification, or rebalancing.

I have investment accounts all over the place. To keep track of all of them in one place I use Personal Capital. It combines all of my accounts, shows me where I may be overpaying in fees, and provides beautiful charts showing my overall asset allocation and performance.

I use Personal Capital to track my Roth and Traditional TSP, Vanguard IRAs, banking accounts, SDP, and my Betterment taxable account, all in one place. It's free, secure and presents me with a one-stop dashboard so I can see all my money on one site.

Read my full review of Personal Capital and see how easy it can be to manage your investments in one place. Trust me, once you try it, you'll love it.

P.S. - If you have over $100,000 of assets and a 401k, you really need to run the Personal Capital 401k Fee Analyzer.

How to Check Your Credit Report for Free 3 Times a Year

One thought on “How to Check Your Credit Report for Free 3 Times a Year

  • September 23, 2013 at 15:06
    Permalink

    I love the fact that you can check free. I don’t believe they should be allowed to charge you to see your own reports! Thanks for sharing!

    Reply

What are your thoughts?