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Author: WILLFORLESS Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308367  
Subject: Free Credit Report Date: 2/22/2005 6:13 PM
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I recently got a gas card with 5%cash back through Discover that I plan to use for gas only.

I also signed up for Accountguard, which delays any payments should I be hospitalized, married, etc. I plan on ending it after 30 days to get the free credit report.

My question-Would getting the credit report adversely affect my credit in any way? If so, I won't ask for the free report and will cancel the Accountguard tomorrow.

Thanks

Willforless
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Author: Windowseat Big funky green star, 20000 posts Top Favorite Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 197978 of 308367
Subject: Re: Free Credit Report Date: 2/22/2005 7:06 PM
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I also signed up for Accountguard, which delays any payments should I be hospitalized, married, etc. I plan on ending it after 30 days to get the free credit report.

My question-Would getting the credit report adversely affect my credit in any way? If so, I won't ask for the free report and will cancel the Accountguard tomorrow.


Where do you live?

In a number of states you are already entitled to get a free credit report, and by the end of the year you can get them anywhere in the country, without having to commit to some useless enterprise like AccountGuard.

Here's the rollout:

http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htm

In addition, Massachusetts, Georgia, Vermont and a few other states already require that you be allowed to get copies of your three reports once a year anyway.

Having said that, no, your report will not be adversely affected by your request to see your reports. The only time there is an affect is when you ask for credit: to open a new credit card, ask about an auto loan, request a mortgage, etc. These are hard requests, and will affect your report. Soft requests (companies that send you an unsolicited offer in the mail, your own requests to check your reports) do not appear and do not affect your report.

If you pay off your card every month you won't need any of those account protection gimmicks. I'm glad to see that you don't intend to keep it.

HTH (Hope This Helps)

Nancy

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