Released: August 04, 2008

High cost of a ‘free credit report’

Source: Stephanie Clifford, New York Times (Free Registration)

Earlier this year, Kris Steele, a Web developer in Madison, Wis., who was planning to buy a car, decided to check his credit score.

Mr. Steele, 27, remembered a number of commercials for FreeCreditReport.com featuring a young slacker singing about various life problems — living in the in-laws’ basement, dressing as a pirate to wait on tables in a seafood restaurant — all because he had neglected to check his credit score. The ads were lighthearted and catchy, with lyrics like: “F-R-E-E, that spells free creditreport.com, baby. Saw their ads on my TV, thought about going but was too lazy.”

So Mr. Steele headed to the site and filled out the information form, including his credit-card number, which he thought the site needed to verify his identity.

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