Take Your Annual Credit Review Seriously
One may not think that credit reports and identity theft would go hand in hand, but think about it. If you don’t know about it when someone is abusing your credit how can you do anything to protect yourself. An annual credit review is a great place to begin.
Maintaining a watchful eye on your credit with an annual credit review is one thing, but who would want to wait a full year to find out if their credit is under attack from nefarious creatures. For this reason, the Federal government has now made it possible for everyone to receive an annual credit report review from the three credit reporting agencies. Those agencies are Experion, Equifax, and TransUnion.
When used correctly, you can maintain a closer eye on what is going on with your credit. Now, rather than taking a good look at it once a year, you can do so three times a year with no cost to you. That means every four months you can do your own annual credit review on a different credit bureau and correct errors as they show up. There may be discrepancies among the credit reporting agencies, and this will give you the opportunity to contact creditors to have them make necessary changes.
Credit reports and identity theft may not seem like compatible friends, but when you think of them as going together this knowledge can be of great benefit. For one thing, it makes you more aware and willing to take measures to prevent those thieves from causing harm to your credit and costing you money.
One of those measures is to freeze your credit report to prevent new creditors from getting access to your credit report. What this can do is prevent them from issuing credit to ID thieves if they make a practice of consulting with reporting agencies. You can always have the freeze lifted and set a time limit when comparing mortgage rates, credit cards and the like as needed.
If you are concerned that you are at risk for identity theft, you might want to consider signing up for credit monitoring so you can do an annual credit review. The cost is often around $15 a month, but that is a small expense compared to the damage that can be done by a ruthless thug out to take what belongs to you.