Remember the FREE Credit Report commercials with a young slacker singing about various life problems like living in the in-laws’ basement or dressing as a pirate to wait on tables at a seafood restaurant – all because he had neglected to check his credit score? They first aired back in 2008, and since then gained a lot of traction with their lighthearted and catchy lyrics. The campaign was a huge success on TV and youtube, so much that its the first stop people turn to for their credit report – however it’s everything but “FREE!”

Let’s quickly break down the actual cost – or just scroll down for a real free credit report.

The Hidden Cost

Instant gratification is king right? Why wait 2 DAYS when you can get your report for one buck right NOW!? Most people don’t know that the two day delay is intentional just to steer you away from the FREE option. Next, the $1 report is a 7 day trial offer, so if you don’t cancel on the 7th day you’ll be billed $16.95 every month until you cancel. Does this still sound like a “F-R-E-E, that spells freecreditreport.com”?

So, How do you get a REAL FREE Credit Report?

Well, you’re in luck! You see the 3 main credit companies, Equifax, TransUnion, Experian are actually required by federal law to provide you a free credit report once a year.

To get your free credit report now go to: AnnualCreditReport.com.

You can learn more about AnnualCreditReport.com at the Federal Trade Commission website, where you’ll also see their attempt at a catchy ”TV style” commercial.

Few quick tips

• To monitor your credit report year round, instead of running all 3 reports right now, check one every 4 months.
• You’ll be asked 4 or 5 security questions based on your credit history that only you will know before you get your report. If you fail, you’ll be asked to mail your information in – don’t worry, start over and pick the next best answer – you have at least one more chance.
• Go ahead and create the free account so you can access your report later, or print it out. I prefer saving it as a PDF document.
• Lastly, if you opt to purchase your credit score or monitoring, create the free account and wait a couple of days. You’ll get an email with some discounts.

So AnnualCreditReport.com is the only way to get a 100% FREE Credit Report. If there’s any errors and discrepancies make sure you address these issues immediately. You don’t want this to negatively affect your credit score when it comes to purchasing equipment and securing loans.