I'm tired of that "F-R- Double E Spells FREE" credit report commercial! Because what they are "hawkin' is NOT free! 
Thankfully, on March 3, 2010 the Federal Trade Commission file a revision to the Free Annual File Disclosure Rule to address the abuses and deceptive advertising for Free Credit Reports. This was part of the new Credit Card Accountability and Responsibility Act 2009.
The new disclosure is available now, but must be used after April 2, 2010, per the FTC ruling... however the Radio and Television Ads don't have to go off air until September 1, 2010 (although the advertisements must adhere to the interim disclosure in the Credit Card Accountability Act until then.)
"The pre-existing requirement to make a free annual credit report available to consumers applies to consumer reporting agencies that operate on a nationwide basis. The new marketing requirements apply to parties that offer free credit reports. For purposes of the requirement, a "Free Credit Report" is a file disclosure prepared by or obtained from, directly or indirectly, from a nationwide consumer reporting agency that is represented, either expressly or impliedly, to be available to the consumer at no cost if the consumer purchases a product or service, or agrees to purchase a product or service subject to cancellation."
I think this is GREAT news for consumers who have been PAYING for what services they don't need!
If you are looking for credit repair from someone who cares about your situation, and will show you how to immediately, and over time imporve your score - please call Steve Thorne, Credit repair specialist 919-649-5058 also check out this site ... it's all about credit repair and dispute information!
Good news, I too am sick of that commercial. Thanks for the post.
Eleanor...
It's about frickin' time! I tell people over and over and over and over, nothing is FR double EE Free. Do they listen to me? Pah Leeze. Sometimes I just want to drop a brick on their head. LOL. Yah. I'm unusally violent today :)
TLW...ROAR!
We will not make any progress in this country until we make everyone accountable for being transparent.
Hidden agendas are the root of every problem (aka "liars")
So true, nothing is free just like there is no sale on (mortgage) money....read the fine print as they say
Eleanor - It's obvious that the so-called free credit report ads worked; they kept paying big bucks to run them every night. Consumers who take time to do their homework will discover annualcreditreport.com, the government mandated, and truly "free" source for credit reports.
You can get a free credit report from each of the three major credit bureaus each year. You will not get your FICO score, but this allows you to monitor your own file, and submit corrections so it is more accurate when you actually need to have it pulled for a loan. All you have to do is go to annualcreditreport.com . Never mind. You guys are correct. We are paying for this with our taxes because the government helped set this up. We are still paying for it, but at least we don't have to pay for it again.
That is good news. I hate to see companies hawk their wares and then do a bait and switch.
John - you are absolutely right - the annualcreditreport.com is the only truly "Free" source for credit reports - those other sites are selling an "insurance" policy IMHO! I hope they come up with a better Jingle!
But I love those commercials. I think the songs are original and catchy. Probably one of the only commercials I can tolerate without fast forwarding through them on the DVR/TIVO.
That's good news. Because the ads are misleading. Not that I like to disagree with my friend Aaron, but you can use copyrighted images and trademarks when you are posting news, postique a critique or review, or making parody.
I've replied this way to several cease and desist letters and I never hear from them again.
Seems most profitable companies are making huge sums of money on hidden cost. The telephone and satellite companies get me everytime. Everybody and their brother get a tax of some sort on those bills.
This is great news! Thanks for posting!
Wouldn't it be nice if people had to give you what they advertised?
The word free is rapidly losing its cache. Today we had a "free" seminar by realtor.com in social networking in Oklahoma City. Nothing free about that or the credit reports.
I thought the commercial had a nice ring to it ,,, although I did wonder about the free thing
The commercials were slightly amusing, not anymore
I always enjoy watching the commercials, but yes, very deceiving unfortunately.
That's ggod to know. Thank you for the update on credit reports.
Oh, thank you! That green wool tights dork drives me up wall!
Most consumers don't even realize that the scores they are paying for aren't even based on the models used by the mortgage industry.
Eleanor: Thanks for the update. The old adage "if it sounds too good to be true" definitely applies here. Take care.
I HATE, HATE, HATE that dork, that commercial and that BAIT & SWITCH COMPANY!!!
I'm missing out on that commerical. We don't have the guy here . . . but #3's comment is absolutely correct.
I can't tell you how many times I talk to people that send me what they think is a credit report from one of these looney places, that is nothing but 50 pages of confusing garbage. It should NOT be so hard to get your free annual report, and consumers are tricked all the time, including having recurring monthly charges.
The world is a better place without those commercials.
Hi Eleanore, Hopefully this will bring a little much needed transparency to that market. Besides, I'm sick of the cheesy commercials - my apologies to the cheese !
Finally! Whilst I did not hate nor love the ads, they do not tell the truth. Seems 2010 is a year of change for the better.
you can take Ben Bueller, Bueller Stein with them.
It's about time someone makes something transparent. By the time we all get done with fees, fees and more fee there isn't anything left to pay the fees.
you can take Ben Bueller, Bueller Stein with them.
I don't like the commercial OR the little dork singin that stupid little song. Whew! Got THAT off my chest. As TLW says, NOTHING is FR EE in the world. People, wake up! It's all a big scam to extract $$$ from your wallet. There! I feel much better...lol
Eleanor - A 'F-U and a CK' THAT spells my retort to all that. While I love concentrating on credit, as it is so importante to the Real World we live in ... I am amazed by the fact that predators keep on preying. It's been the soup du jour.
I've come of the opinion that the better the marketing, the worse the product. If that is indeed remotely true, I think it is a damn shame that creativity and competence can't share the same field.
Free is just that or get off the air. Seems simple but must be a different kind of free.
Free credit reports; free telephone numbers, free ringtones, free addresses...of course, after you click, you need a credit card to pay 19.95.
It's good to hear that these will be more regulated. I think the only thing free about it is the call.. oh I forgot.. it cost time to call them to find out that it's not free at all.
The free credit report jingle is annoying and catchy. But, people sometimes forget that there is no such thing as free lunch.
Could there be a better "bait and switch" out there where millions get duped and nobody goes to jail.
It's about time, I imagine some politician is getting a wad of cash from this company and they will resurface with some new angle.
Maybe "we'll eliminate your debt for freeeeeeee"
Eleanor,
So glad that you posted this. I have too many clients tell me that they see sites offering free credit reports, then they get to a screen that tells them to submit credit card information. As you said in your comment, the only truly free one is annualcreditreport.com, and I've been touting them for years.
Now... if they'd just do something about those gold buyers and structured settlement buyers that are continually advertising on TV.
Eleanor:
I got hooked into that "free credit report" bait too. All I had to do was call the 800 # and get my "order" cancelled. The problem is that I was billed for 3 months at $14.95 per month!
I knew something was fishy... I was asked to select a "free" gift for requesting a "free credit report"... The gift was not free either...
FREE, FREE, FREE Genuine US Dollar, free to the first 20 people who respond...just send $10.00 (USD ) for shipping and handling for each genuine US Dollar requested ;>)
I didn't know the reports were not really free. Dang! I used to think the commercials were cute, now they'll just irritate me. But only until September!
I am sooo sick of the commercial! Glad to hear there is some positive change coming to this part of the market. nothing is "Free".......
Wait, regulating private business? Shouldn't that Pirate cook guy be allowed to commit fraud with a catchy jingle?
The last time I tried to get a "Free Credit Report" they put me through way too many hoops. They were asking me to verify who I was by giving them the account number on some very old accounts that I had closed and long forgotten.
That song is so annoying, but it does stick in your head. Good marketing.
Bad job at explaining it is NOT FREE. It is so misleading.
It's about time! You're right Erica, annoying but catchy tune that sticks to your brain. Remember the "Winston tastes good, like a .................."? And how many years has it been since that commercial ran? Great marketing!
This is awesome news! I hate to think about all of the folks that have gone to their site after seeing or hearing thier misleading commercial and getting ripped off. It will be really nice to not hear this junk any longer.
Thans for the post. I was not aware of the annualcreditreport.com web site. I do get some great replies when I ask why I need acredit card number for something that is free. Take Care
If you have a credit score below 600 then you might as well kill yourself. That seems to be the message that the credit bureaus advertise. I think it's funny that the people responsible for putting inaccurate data into your report to lower your score are also the same ones profiting from selling you the report that shows how wrong they got it.
Next thing you know, Microsoft will be manufacturing anti-virus software to plug the holes in their Windows application.
With the credit bureaus, why fix the problem of inaccuracy if you can profit from it?
There has to be a law somewhere.
I'm glad for the poor consumer. It's a scam that too many people fall for.
I'm sure my previous comment lowered my FICO score by 50 points.
Thanks for the heads up, I am so tired of Scams & I am glad they are being regulated! Thanks for truly trying to help people improve their scores! Congrats on the feature post!
Eleanor,
Thanks for the information. I hate it when it just aint what is advertised.
Cal
This is great! I will, however, miss the catchy jingles in the commercials...some of the more creative ones for sure!
They aren't the only ones. An Ad from a national car insurance company says in their commercials they can lower your insurance if you qualify (ie. home insurance; no accident in past ## days/months; accident forgiveness program; cash reward for being safe driver; etc) however, some of their programs are not available in NC because of state insurance law. Bottom line is the consumer must read the fine print/FAQ's/terms & conditions before clicking that accept button. Also have you noticed lately that after the variouscompanies (financial/insurance/et al) change the terms after they get you "locked" into a contract or long term program citing changes to either state or federal laws/rules.
Hey! just a thought I wonder if can change the "rules" on the spur of the moment, too (like our commission rate). LOL
HA - love your image! I'm so sick of those commercials I could die!
That is good news, and a welcome change.
I was very, very happy to read your post. Thanks for letting us know!
I agree, GOOD RIDDANCE! Also, I hate when people tell me their credit score based on one of those reports...TOTALLY IRRELEVANT!
Eleanor, am just getting back in the rain after a week long sabbatical... great post. AND congrats on the feature too my friend!!
It's amazing how they can pay for all of that advertising on national radio and TV when their product is free....Hmmmm. Good job by the government (wow, I think that's the 1st time I've ever uttered those words).