The Federal Trade Commission (FTC) says starting in April, advertising for so called "free credit reports" will require new disclosures to let consumers know that signing up often leads to spending money on credit monitoring or other products.
The FTC says no-strings-attached credit reports ar eaavailable at AnnualCreditReport.com, or by calling 877-322-8228.
The new rules will require prominent disclosures in advertisements for so called " free credit reports." The FTC says as of April 1, any web site offering free reports must include a disclosure, across the top of each page which states: "You have the right to a free credit report from AnnualCreditReport.com or 877-322-8228, the ONLY authorized source under federal law."
The FTC says any web site disclosure must also include a clickable button to "Take me to the authorized source" and clickable links to AnnualCreditReport.com and ftc.gov
The changes is the result of the Credit CARD Act of 2009 which requires the FTC to take action to prevent deceptive marketing of "free credit reports." The FTC says the changes also restrict practices that might confuse or mislead consumers as they try to get free annual credit reports and it requires the three consumer reporting agencies - Equifax, Experian, and TransUnion - to delay any advertising for products or services on AnnualCreditReport.com until after consumers get their free credit reports.
The FTC says information on your credit report can affect whether you can get a loan or a job, so it's important that consumers check their credit reports and correct any information that is inaccurate. It also reminds consumers that each of the nationwide credit reporting companies is required to provide consumers with a free copy of their credit reports once every 12 months upon request.
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