Keeping Your Credit Report Safe From Identity Theft

Do you need to be a victim of identity theft before you take measures to protect yourself

? If your identity gets stolen your credit report can suffer as a result. The person who is using your identity may max your cards out, apply for loans under your name and so on. This will result to you having negative information in your credit report and having a computed credit score that is too low. Pretty soon, all your hard work and savings would amount to nothing.

Start by being cautious. Try to get your credit report on a regular basis so you can monitor if all information in your report is correct. If you find suspicious information such as a credit card transaction that you cannot recall making, report it to the credit bureau. Also, contact the credit card company to inquire about the recorded transaction that you know you have not made.

You can also rely on your credit score reports for monitoring. If you are refused of a credit or loan application due to a low credit score but you know you have paid your bills on time, be on alert. Someone might be using your accounts without your knowledge. If you received credit card bills that have suspicious transactions recorded on it, notify the credit card company and the credit card bureau. You should also notify your local law enforcement so you can receive legal advice.

Also, remember not to give your social security number to anyone unless it is absolutely required. Do not carry a social security car in your purse and leave it somewhere secure such as your home. Identity theft is usually due to a purse left unattended for a moment with important documents on it such as a social security card or a birth certificate. If someone requests personal information from you, be sure that you know why they are asking for it and who they are.

Finally, guard all your personal information carefully. Do not display it on just any website especially on social networking sites. Make sure that the privacy and security measures on a site are trustable before you post your personal information. Again, monitor your credit report. You do not even have to pay for it because your can get your credit report for free once in every 12 months according to federal law.

Compare your credit reports from the three major credit bureaus if possible. Some credit reporting agencies can give you a 3-in-1 report or a report from all three major credit bureaus. A theft that is detected early will have a greater chance of being solved.

by: Leo Chu

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