| Federal legislation giving consumers the right to a free | | | | Ordering the reports by phone isn't much easier than |
| credit report took effect in December, with a | | | | navigating the Web site. |
| nationwide roll-out that began with Western states. | | | | "You're never going to speak to a live person, |
| The law requires the three national credit-tracking | | | | everything is automated and it's rather frustrating. |
| companies Experian, TransUnion, and Equifax to | | | | We encourage people to keep trying," Garcia said. |
| provide consumers with free credit reports once a | | | | "It's probably best to do this when you're at home, |
| year. | | | | and you have access to your files and your |
| Consumer advocates say that the importance of | | | | paperwork," Garcia said. "I would set aside a good 15 |
| consumers monitoring their credit histories has never | | | | to 20 minutes. It's not lickety-split." |
| been greater. That was underscored last week with | | | | Consumers can get one credit report per year from |
| revelations that a security breach at ChoicePoint Inc. | | | | each of the three agencies, which can be obtained |
| might have revealed to identity thieves the personal | | | | simultaneously for comparison purposes, or staggered |
| data of some 145,000 people nationwide and 830 in | | | | to keep an eye out for identity theft. |
| Wisconsin. | | | | May want all three |
| "The government wanted to provide consumers with | | | | "It sort of depends on where you are with |
| tools to guard against identity theft," said Loretta | | | | knowledge of your credit reports. If you haven't |
| Abrams, national director of consumer affairs with | | | | looked at this ever, it might be a good idea to get all |
| financial services company HSBC North America. | | | | three," Garcia said. |
| A total of 2,646 Wisconsin residents reported being | | | | Consumer advocates also worry that scammers |
| victims of identity theft last year, a 14% increase | | | | might use the new report system to contact |
| from 2003, according to the Wisconsin Bankers | | | | consumers. |
| Association. | | | | "No one will ever solicit a consumer to obtain their |
| Agencies block referral links | | | | free credit report. If you get something in your e-mail |
| Although interest in credit reports may be high, | | | | box saying We'll get you a free credit report,' forget |
| consumers will face some frustration when they try | | | | it. If you get a call saying We'll get you a free credit |
| to access the information using the Internet. | | | | report,' forget it," Garcia said. |
| The credit reporting agencies have blocked referral | | | | Be wary of scams |
| links to the Web site, | | | | "Never give information to a source when you did |
| That means clicking on the Web address from other | | | | not initiate the contact," said Kurt R. Bauer, president |
| sites such as those in online media articles will not | | | | of the Wisconsin Bankers Association. |
| lead to the site, according to Norma Garcia, senior | | | | Hassles aside, financial advisers still highly recommend |
| attorney for the Consumers Union West Coast | | | | getting the reports to watch for errors and possible |
| Office in San Francisco. | | | | identity theft. |
| Consumers Union has not determined why the | | | | "I want to be first in line. I think it's very important," |
| agencies blocked referrals, and filed a complaint with | | | | Abrams said. "Twenty-five percent of credit reports |
| the Federal Trade Commission about the matter. | | | | include errors." |
| Representatives of the three credit agencies could | | | | Consumers should review their financial information on |
| not be reached for comment. | | | | a regular basis, according to Bauer. |
| Because of the block on referral links, the number of | | | | Getting a copy of your credit report is one of the |
| Internet hits received by the credit report site is low. | | | | biggest safeguards," Bauer said. |
| That, in turn, gives it a low ranking by search engines | | | | What to do when you get your credit report |
| such as Google, where the site does not pop up on a | | | | Look for missing information. Maybe the report lists a |
| search for "free credit reports" until the fourth page | | | | loan that you have paid off, but the lender has not |
| of links. | | | | yet informed the credit agencies. |
| Consumers in states where the reports are already | | | | Look for untrue information. The report might |
| available have complained about advertising pop-ups | | | | indicate you have paid bills late that you really paid on |
| for paid services with the three agencies. The law | | | | time. |
| allows Experian, TransUnion and Equifax to advertise | | | | Look for mix-ups. It doesn't happen often, but |
| for other services on their sites. | | | | sometimes the accounts of a deadbeat consumer |
| More confusion | | | | with a similar name are inadvertently included on your |
| Also confusing: The free reports do not include the | | | | report, unfairly dragging down your credit score. |
| consumer's actual credit score. That's the all-important | | | | When you find errors: |
| number that affects virtually every facet of | | | | Notify each of the credit reporting companies of |
| everyday consumer life, from obtaining good | | | | each error, which will require them to investigate. |
| insurance and mortgage rates to getting car loans | | | | If the investigation results in the information being |
| and accessing additional credit. | | | | removed, you can request that the credit reporting |
| The score can be purchased for a fee of $5 to $7, | | | | companies notify anybody who recently obtained |
| depending on the agency. | | | | your report about the change. |
| The first day of the roll-out was cumbersome in | | | | You can place a written statement in your report if |
| other states. "They got tied down on the Internet | | | | you dispute the findings of an investigation. |
| connection. Lines were busy, busy," Garcia said. | | | | |