FreeScore360.com is powered by ScoreSense, a trademark of One Technologies. One Technologies is a Dallas company that owns several credit reporting websites, such as FreeScoreOnline.com, NationalCreditReport.com, CheckYourCredit.us, CreditReportCenter.us and CreditScoreCenter.us. The company was launched in 2000 by brothers Alex and Roger Chang as a mortgage leads generator. In 2006 the company switched to the credit monitoring business. According to One Technologies, they have since provided credit monitoring services to over 1 million clients. The company has a C rating with the BBB, due to 2,524 complaints and government action against the company.
As of April 2015, there are pending charges by the Federal Trade Commission against One Technologies over misleading advertising and for charging consumers for credit monitoring programs they never ordered.
FreeScore360.com provides online access to credit reports and scores from all three credit bureaus (Experian, Equifax and TransUnion). FreeScore360.com does not specify which credit score model it uses. However, the terms and conditions of the website specifically say they are not FICO scores. Around 90 percent of lenders use FICO scores to evaluate the creditworthiness of borrowers.
FreeScore360 does not offer daily monitoring, email alerts of credit changes, identity theft protection, or help with credit related disputes.
FreeScore360.com markets itself as a free service, but it's really a paid subscription with a 7-day trial. Consumers must provide their personal information to confirm their identity and credit card details to pay for the monthly subscription in case they don't cancel their 7-day trial. In exchange, consumers receive credit reports and scores from all three credit reporting agencies.
The 7-day trial is free as long as you cancel the service within the seven-day period. After that, the service costs $29.95 a month.
As long as you remember to cancel your subscription within seven days, FreeScore360.com offers consumers free access to credit scores and reports from all three credit reporting bureaus. Although it does not give out FICO scores, it's still a step up from AnnualCreditReport.com, which doesn't offer any credit scores. The advantage of AnnualCreditReport.com is that it doesn't require consumers to provide a credit card and there is no trial period to worry about.
On the other hand, FreeScore360.com has a history of using questionable marketing techniques and is currently under investigation by the FTC. It is not an accredited BBB business and only has a C rating. Free access to credit reports and scores –albeit not FICO scores—is a good deal. The catch is that users are automatically enrolled in a monthly subscription of $29.95, which is a lot of money for just three credit reports and non-FICO credit scores. Notice that this is a negative option trial, where FreeScore360.com will take consumers' inaction as permission to charge them after the trial period is over. Many customers fail to read the small print on the trial and are unaware they are agreeing to a monthly subscription.