There are loads of adverts out there assuring us of FREE CREDIT REPORTS. It annoys me ” the way I see it Free Credit Reports dont exist. If anything, I believe it could be a make money scam carried out by immoral Credit Report companies.

The moment we have finished completing our personal information, we then have to give them all our bank details prior to anything being released. This being after we have been seduced onto their websites via the most annoying and disliked pop-ups which must cost them the earth.

If you have heard of the term recurring billing, then no doubt you will know Googles description, which means, …Transactions for which a cardholder grants permission to the merchant to periodically charge his account number for recurring goods or services… I question whether or not these companies are using this as an income strategy whilst claiming this is as a means of identity verification.

This catch is of course not immediately obvious to us, but we get it when the debits start to drain our credit cards. Reliant on the fact that many of us forget to cancel subscriptions, they debit us every month and sometimes even twice per month (more in a later Article). This is how many companies offering Free Credit Reports make their money out of us. Outrageous!!!!!

During this period of financial insecurity, we are a bit more vulnerable, and if more competition were to be is introduced, and legislation tightened, we may get the opportunity of benefitting from a fairer deal.

So now that bit is over and done with, if someone is stating that their service is FREE, then regrettably, and inevitably, there will be some sort of catch or trap concerned. These companies are here as a safeguard for us and our financial matters and to defend us from Credit Card Fraud, Internet Fraud, Identity Theft and Cheque Fraud, yet some may see their ethics as a SCAM in itself!

So not only are we potentially paying for this Free Service, but we have to offer them our credit card details as well! Surely we should not have to part with our credit card details, as this service is supposed to be FREE? A typical example of their Terms and Conditions reads.. …after your 10-day FREE trial period it’s just 25.95 per month. Remember, you can call us within the first 10 days to cancel, and you will not be charged the 25.95. To ensure continuous service, at the end of your trial period your membership will be automatically charged each month at the then-current membership fee…

Added to recurring billing we also have to put up with their seriously bad service as well as their mistakes. These mistakes can ruin our financial futures! Take a look at some of the hard facts in a new article to be published soon, and dont forget to cancel your subscription, or YOU WILL BE CHARGED!