Identity Theft: A Spreading Epidemic For Instant Credit Report Consumers |
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Your instant credit report is a snapshot of your entire credit history. How you paid your bills in the past, your
present credit score, the amount of your outstanding debt--all can be
viewed on your instant credit report. You can apply for a copy of your instant credit report from any of the three major credit bureaus, Equifax, Experian and TransUnion or from other companies that have grown up all over the country. But there is a word of caution for you. In the recent years several customers have complained that even though they were regular on their payments, they got nothing satisfactory on their instant credit report while they logged onto the websites of the issuing companies. So, can you guess what went wrong with them? Simply, they were the victims of identity theft. Identity theft is a very dangerous problem as most of the time you don't know even if you are reeling under it. Nowadays, with a social security number and a little bit of work, anyone can steal your identity and make it possible for them to obtain credit cards, identifications, loans etc. in your name. By obtaining key information from your instant credit report a criminal can build a profile of your identity and enjoy the benefits that are meant for you. Right now, our computerized economy has made identity theft a very lucrative, and relatively easy, crime. As mentioned earlier, armed with any significant personal information (your social security number, your driver's license number, a number from one of your credit cards), sophisticated thieves can create an entire false identity, and then run up all manner of credit charges against your supposed accounts. In more extreme examples, thieves can use your personal information to gain access to your bank and investment accounts. And all this credit charges are jot down in your Instant Credit Report. Once the credit charges are recorded in your instant credit report against your name, you may have to face severe problems. Identity theft not only lowers down your credit score drastically, but also ruins your financial standing. And if in such a condition, you approach an agency for a loan, you are unlikely to get a loan, as the lenders would doubt on your creditworthiness. No doubt, it's a tough job to rescue yourself from the clutches of identity theft. However, you can minimize the risk of being victimized by taking the following steps: --Never leave your purse or wallet unattended at work, at restaurants, at health clubs, at church, at parties. Never leave your purse or wallet in open view in your car, even when locked. --Destroy all checks immediately when you close a checking account. --Limit the number of credit cards you have, and cancel inactive accounts. --Never give any credit card, bank, or social security or other personal information to anyone over the telephone or on the Internet. --Check your instant credit report regularly to make sure no unauthorized activity has occurred. --Protect your personal information (such as your PIN, Social Security Numbers, date of birth, etc.). --Don't carry unneeded credit cards, your Social Security card, your birth certificate or other personal documents in your purse or wallet. --Monitor all your bank statements from every credit card every month. Check to see if there is anything that you do not recognize and call the credit grantor to verify that it is truly yours. --Shred financial documents that contain your personal information before you discard. To wrap up, identity theft is one of the fasted growing crimes in the United States. Therefore it's very important to check your instant credit report regularly. And if you come to know that something is wrong with your report, never hesitate to contact all the three major credit bureaus. It is worthwhile to fill out a police report at your local police station, and also to submit a report to the nearest branch of the FBI. The police agencies may not be able to catch the smaller crooks, but chances are good that they are hot on the tails of the biggest ones. |
