Attorney General Tom Corbett urged Pennsylvanians to review information about a recent legal settlement which could give consumers across the country access to a free version of their credit score.

Corbett explained that one of the major U.S. credit bureaus, TransUnion, recently agreed to provide virtually every adult in America with access to a free version of their credit score under a proposed settlement for a class-action lawsuit. The settlement (In re Trans Union Corp. Privacy Litigation) stems from allegations that TransUnion sold consumers’ personal information without their permission in the early 1990’s.

“Credit scores are a useful tool – especially when combined with other credit report information - helping consumers gauge how potential lenders and creditors may view them as customers,” Corbett said. “Federal law already gives consumers the right to a free copy of their credit report every year, but credit bureaus are allowed to charge a fee for your actual credit score.”

Corbett said the settlement with TransUnion affects all consumers who had an open credit account or line-of-credit between January 1, 1987 and May 28, 2008. That means anyone with a car loan, credit card, department store card, student loan, mortgage or other form of credit during that timeframe – an estimated 160-million consumers – is eligible.

Corbett explained that in order to resolve the allegations included in the lawsuit, TransUnion has agreed to provide several options to consumers who chose to participate in the proposed settlement. These options include two different levels of free credit monitoring services, one that is available for six months and includes access to a credit score from TransUnion, or an “enhanced” nine months of free credit monitoring services, which includes access to a credit score and other services, including a mortgage simulator.

According to the settlement terms, consumers who choose the enhanced option will give up their right to sue TransUnion for the claims asserted in the lawsuits. Consumers who choose the enhanced option also agree to give up their chance of receiving a possible monetary payment at a later time from a settlement fund to be established by TransUnion. No consumer is required to participate in the settlement, and consumers are also free to file their own private legal action against TransUnion.

Corbett noted that the settlement is subject to final court approval in September, but added that consumers can review information now regarding the case and submit a form indicating which settlement benefits, if any, they wish to receive. Details are available by calling the TransUnion settlement number, at 866-416-3470, or on the official settlement Web site.

Corbett added that all consumers, regardless of whether they participate in the settlement, are eligible for free annual credit reports through www.annualcreditreport.com

“Every consumer should take advantage of the free credit reports that are available to them each year,” Corbett said. “These reports provide valuable information about your credit history and can also help identify possible instances of identity theft.”

Consumers who are interested in knowing their credit score, but would rather not pay for the information, should consider whether participation in the TransUnion settlement is something that is right for them. Additionally, several websites offer free credit score simulators which can give you an estimate of your actual score without disclosing personal information

With auto manufacturers reporting slow sales and gasoline at record highs, anyone in the market for a new car can find some great deals. But before you hit the dealership, you should do a little homework to make sure you can get the best rate on an auto loan.

The single most important thing you can do to get the best rate is to know your credit score at least 30 days before you apply for a loan. This provides you with the opportunity to raise your score if you find out it’s low. Knowing your credit score means you’ll be better aware of the rates a lender will give you. A higher score tells lenders you’re less of a risk because you have a history of responsible credit usage and paying on time. Consequently, you will receive better rates.

You can check your credit score quickly and easily at GoFreeCredit.com. The credit report is free and you can try to credit monitoring service free for 30 days. Use it to monitor any activity and make changes to increase your score, if necessary. GoFreeCredit.com gives a detailed, personalized analysis of your credit report with advice on how to improve it. You can also get information on how to understand your credit report. After the 30 day trial, you can continue the service for a low monthly fee to keep an eye on your credit report and help prevent fraud.

Experts advise checking your credit report several times every year, but checking too often with other services can hurt your credit score. Using GoFreeCredit.com will not negatively affect your score, no matter how often you check it.

When checking your report, it’s important to verify your credit history is correct. No one wants to sit down to discuss an auto loan only to find out a simple error has lowered their credit score, negatively affecting their rate. Examples of common errors include small unpaid balances from long-forgotten credit cards or false accounts opened in your name by someone else.

GoFreeCredit.com can refer you for a free consultation with an accredited credit repair company to help you remove such errors from your report.

The last thing to do before visiting the dealer is to arrange your financing. Most people don’t realize that dealers tack on extra percentage points to the interest rates they offer. Arranging your financing online can save you hundreds of dollars per year.

Just a few extra steps before you start test driving new cars can help you get a great rate on your next auto loan. To sign up for your free credit report and score with unlimited access to your 30-day credit monitoring trial, visit GoFreeCredit.com and check your credit report today.

The first strategy for a consumer struggling to manage his or her debt is to reduce expenses and improve spending habits. This is especially difficult in the summer months as gas prices soar, families take vacations, and air conditioners are running up electric bills.

“Consumers must budget for those added expenses the summer can bring,” says CareOne Credit Counseling Services Spokesperson Clarky Davis. “It’s tempting to splurge on extras like summer travel, but, if you are in debt, taking a trip can put you in a bigger financial hole. Instead, reschedule your vacation for when your finances are not so shaky. Reexamine your budget to account for necessary expenses - gas to get to and from work and energy to keep you cool. Don’t forget to take advantage of seasonal food items that are found at your local farmers’ market for a low cost.”

Providers of CareOne Credit Counseling Services offer the following tips and advice for consumers wanting to save on summer expenses:

1. Gas prices affect not only long distance driving trips and vacations, but also flight costs. Take vacations closer to home if possible. Some common, local vacation spots may include amusement parks, national parks, camping grounds, ocean or lake beaches, or historical sites. Also, consider day trip ideas such as museums or the theatre, for relaxing, air-conditioned entertainment.

2. The high cost of fuel in the summer also affects day-to-day driving. To save even more money, try to consolidate errands into fewer trips when possible (such as buying groceries directly before or after picking up the kids from a play date). Carpooling is another option to save money on fuel. Run errands with a friend or neighbor so that you both can take advantage of the savings.

3. An air conditioner can run up an electric bill quickly. Minimize these expenses by setting the thermostat to around 78 degrees during the summer, and don’t turn it on during the season until absolutely necessary. Leave it turned off whenever possible and, instead, open a window if there is a breeze outside. Avoid heating up household items too quickly again by keeping shades drawn and closing off areas of the home that do not need to be cooled (such as closets, bathrooms, and spare bedrooms). Finally, if you are using a window A/C unit, ensure there are no gaps allowing warm air in through the window.

4. Grocery bills can increase during the summer for families with children who are temporarily back home. Plan meals ahead of time to take advantage of store sales and coupons and supplement the weekly meal schedule with leftover ideas to stretch groceries further.

5. Even cooking regular meals can rack up summer costs. On top of the typical gas or electric costs of operating a stove and oven, the added heat can force consumers to leave air conditioners or fans running longer than necessary. Instead, use the microwave, plan cold meal options (such as sandwiches or salads), or cook outdoors on a grill.

6. Many consumers like to eat outdoors during the summer months. If eating outside frequently (such as for picnics) is commonplace, invest in inexpensive dishes and utensils that can be used outside rather than repeatedly purchasing disposable materials year after year.

7. Hang clothes outside to dry. This not only saves money on utilities but also decreases the amount of extra heat being released into the home, again cutting down on the dependency on an air conditioner.

8. Don’t run up utility bills by over-watering the lawn. For those who insist on having a lush green lawn at all times, water it early in the morning or later in the evening. Mid-day watering costs you more as the more direct sun evaporates more water than earlier or later in the day, meaning it takes more water to get the same effect.

About CareOne Credit Counseling Services:
CareOne Credit Counseling Services is a service mark of 3C Incorporated, and its providers are industry leaders committed to providing consumers with education and debt management services related to improving and maintaining their financial health. CareOne Agencies have helped over 4.5 million people pay down debts through their solid relationships with over 220,000 creditors.

For more information about CareOne Credit Counseling Services, please visit www.CareOneCredit.com, or contact Clarky Davis at (410) 925-9769.

While credit cards are sometimes portrayed as a necessary evil, they also provide a lot of benefits. The key is to know how to use them to your advantage and not to get caught up in the traps that lurk behind the benefits.

Play the Float
Banks and insurance companies play the float all the time, investing the money you pay for premiums or park in a savings account at 0% interest. You can do that by playing the float yourself, and a credit card is the perfect way to do it. Charge a high-ticket item on your credit card and pay it in full when the bill is due. Time it right and you could get nearly two month’s interest free. Find out when your credit card issuer’s billing cycle closes (call customer service or check your previous statements) and then make your purchase right after that date. The charge won’t appear until next month’s bill, and depending upon the length of the grace period, you might luck out with a good healthy float. Note that this strategy does not typically work if you are carrying a balance on your credit card.

Rack Up Rewards
If you want travel rewards, free movie passes, or even cold hard cash, just pull out the plastic. There are rewards to suit just about every interest. The challenge is picking one! If you carry a balance, understand that the interest rate may be higher than what you can get elsewhere. And watch out for strings attached to the rewards, such as minimum purchase requirements, blackout dates for travel, or caps on the amount you can earn. Once you’ve found a card you like, you may find yourself using it for all your purchases. That can be rewarding - and addictive -so make sure you don’t overspend just to earn rewards.

Shop Safely
Credit card purchases are backed with the protection of consumer law. To dispute a billing error on your credit card, you must follow the rules, though. Picking up the phone to complain is not enough! Here’s what to do:

* Write to the credit card issuer at the address for “billing inquiries,” not the address for sending your payments (the address for billing inquiries is often found on the back of your most recent monthly statement); include your name, address, account number, and a description of the billing error.

* Send your letter so that it reaches the credit card issuer within 60 days after the first bill containing the error was mailed to you.

* Send your letter by certified mail, return receipt requested, so you have proof of what the credit card issuer received. Include copies (not originals) of sales slips or other documents that support your position. Keep a copy of your dispute letter. One warning: billing error protections don’t offer help in the case of buyer’s remorse.

Build Your Empire
Plastic is usually a lot easier to get than a bank loan, especially for a start-up venture. But that easy credit has its downside. With a large line of credit on your Visa or MasterCard, you may be tempted to spend money on things not essential to your business. If finances charges rack up faster than revenues, you’ll soon be in trouble. The better strategy is to start your business on the cheap, and use credit cards only as needed. When you do use plastic, choose a business credit card reported in the name of your business rather than on your personal credit. You’ll protect your credit rating from the additional debt and you will be setting up your venture as a serious entity rather than a side hobby.

Save at the Car Rental Counter
Your US$10 a day car rental can easily mushroom into US$30 a day if you buy the “protection” coverage the rental car company will try to sell you at the counter. The “Collision Damage Waiver” is technically not insurance, but it works like insurance in that it covers you if the vehicle you rent is damaged. The good news is that between your own car rental coverage and a CDW waiver benefit on your credit card, you may be able to turn down that pricey policy. You must use the card that offers the coverage when you rent the car, so make sure you carry that card with you when you travel.