I found this amusing spoof song at Boing Boing about a credit report that was somewhat less than free, but the root problem is that the guy did not read what he was agreeing to. Granted, I’m a bit of a weirdo – I actually read the manual that came with my car, and I do at least scan through every software EULA before clicking “I agree.” But it pays to pay attention. The fine print may be boring, but when it tells you the special introductory interest rate is going to triple in six months, it’s definitely worth your while to read it.
Having said that, it’s also entirely worthwhile to be aware of your credit score and probably to monitor it monthly. When I checked my credit report a few years ago, I found accounts from a state I’ve never lived in. The crazy thing was they actually improved my credit score; the accounts were paid on time. Identity theft or just a screwup? I have no idea, but I did get them removed. I haven’t been monitoring but I’m thinking about it… There are a lot of companies offering credit reports these days, so it’s not like we’re stuck with the one in the video. I did find this free credit report service which is a good deal more open about the fact that the monitoring is a free trial. I like that.
