Personal Credit / Identity Theft
About your Credit Score
Did you know that you have three credit reports, and these credit reports are not necessarily the same? Your credit reports can contain different information because lenders and creditors may report your accounts to one or two of the three national credit bureaus who report data independently. By checking all three of your credit reports, you can make sure you are maintaining a healthy credit profile. And a healthy, active credit profile can be the key to obtaining low loan rates. This is because lenders use credit reports to see how consumers have utilized their credit in the past.
If you have been responsible with your accounts and have been able to pay your debts on time, then chances are you are doing well with your credit.
However, sometimes credit reports contain inaccurate data that can hurt your credit score. Also, checking your credit report can key you in to potential instances of fraud and identity theft. Courtesy of: www.TransUnion.com
Visit any one of the three major credit bureaus to obtain your credit report today:
www.Experian.com www.TransUnion.com www.Equifax.com
How Can You Prevent
Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes.
The FTC estimates that as many as 9 million Americans have their identities stolen each year. In fact, you or someone you know may have experienced some form of identity theft.
The crime takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn’t make—or until you’re contacted by a debt collector.
Identity theft is serious. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record. Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports. In rare cases, they may even be arrested for crimes they did not commit.
Don't become a victim! Click here for more information on how you can prevent identity theft.
Courtesy of: Federal Trade Commission (FTC)