<div id="subtitle">FTC takes aim at Web site that charges customers for what should be free</div><div><p> In a series of entertaining television ads, freecreditreport.com features a band singing humorous songs about its terrible state of life, which is blamed on bad credit. The catchy jingles imply that if the band members had only known about what was on their credit reports, they could have done something to get out of their current situations.</p><p>The Federal Trade Commission, however, doesnÕt see much to laugh about in those ads. The FTC says Experian (one of the three major credit reporting agencies and the adÕs sponsor) is tricking people into buying credit information with the promise of something free.</p><p>By law, consumers are allowed one free credit report from each of the agencies each year. People who go to ExperianÕs freecreditreport.com will find out that they need to give the company a valid credit card to get their reports. What theyÕre really signing up for is a free trial of the companyÕs credit monitoring service, which gives updates at least monthly on usersÕ credit scores. If they donÕt cancel the trial within seven days, they are charged $14.95 a month.</p><p>Consumer advocates say the average person doesnÕt need such a service — checking the monthly bills and getting a credit report up to a few times a year is more than sufficient, they say. Edgar Dworsky, founder of ConsumerWorld.org, recently told The New York Times that the drive is fostered by Òparanoia.Ó</p><p>It is no wonder why there is paranoia, considering how the ads play on the current economic doldrums.</p><p>The FTC has battled with Experian for several years and the commission has fined the company $1.25Êmillion over the past five years, saying Experian duped people into going to its site instead of a site called annualcreditreport.com, which offers truly free credit reports from all three reporting agencies. The FTC tried to get the company to give up the name of its Web site, but so far the company has refused.</p><p>Given peopleÕs concern over their credit scores, the FTC is right to press Experian on its tactics, which only lead to more bills — and potentially more credit debt.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=63044309&bid=informcom" /></div><div id="copyright"><div>

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