Credit Score Security
If you have a lower credit score that you would like, odds
are that the score is caused by some small financial mistake or
oversight you have made in the past. Not every person with bad
credit has a low credit score caused by something they did,
though. Sometimes, other people’s criminal activity can affect
your credit score. There are a few tips that can keep you
and your credit safe from online and financial predators:
Tip #8: Look out for identity
theft.
Many people who are careful about paying bills on time and
having minimal debts are shocked each year to find that they
have low credit scores. In many cases, this happens as a
result of identity theft. Identity theft is a type of
crime in which people take your personal information and steal
that information to pose as you in order to get access to your
accounts or identity.
For example, someone with your PIN numbers can remove small
amounts of money from your bank account each month or someone
can use your name and personal information to get credit cards
in your name and use those credit cards with no intention of
paying back the money. You are stuck with the large debts
and the poor credit score.
To prevent identity theft, always check your account
statements carefully each month. Report any suspicious
activity or any charges you don’t recognize at once. Also
check your credit report regularly and immediately investigate
any new credit accounts you do not recognize - this is the best
way of detecting and acting on identity theft.
If you have been the victim of identity theft, report to the
police at once and get a police statement. Send copies of
this to your bank and credit bureaus. Better yet, get the
credit bureaus to attach the report to your credit report, if
you can. Close all your accounts and reopen new
ones. You should not have to pay for someone else’s
illegal activity.
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