Finally, some limits on those irritating pitches for "free" credit reports that attempt to confuse consumers into thinking they are the site for the government-mandated free annual reports, and then try to lure consumers into buying pricey credit monitoring services.
The Federal Trade Commission announced today that the credit card act requires these companies to prominently display that they are not part of the government program. And they must have a link to the authentic government site.
An example of what the disclosure should look like, according to the FTC:
"THIS NOTICE REQUIRED BY LAW. Read more at FTC.GOV. You have the right to a free credit report from AnnualCreditReport.com or 877-322-8228, the ONLY authorized source under federal law."
This rule takes effect April 1.
Meanwhile, Marylanders can easily avoid paying for credit monitoring services by taking advantage of the free reports. Federal law allows you to get a free report annually from the three major credit bureaus; state law allows the same thing.
So, Marylanders are entitled to 6 reports total each year. You can request a copy of the three bureaus every other month, and monitor your record that way.