Even with the news full of identity theft stories, there are still individuals that choose not to check their annual credit report. Most people don’t feel that they are at risk, that identity theft only happens to other people. There are many others out there who would beg to differ. Your annual credit report gives you an opportunity to make sure that your credit report is correct and that no one has applied for credit in your name or with your social security number.
Thanks to new legislation that recently went into effect, you can receive your annual credit report from all three agencies free of charge. To do this, simply contact the agencies in writing and request your free annual credit report or go online to their websites to request it. The three major credit reporting agencies that you can receive your credit report from are Equifax, Experian and TransUnion.
Once you receive your annual credit report, you need to take the time to review each one and verify the information. Your credit report will tell you all of the credit accounts that you have open, whether you have any late payment history, a recent history of any judgments that have been made against you, and your address and employment history. If there are accounts or judgments that you do not recognize in your annual credit report you should write down the information and contact the credit reporting agency as soon as possible. These are all signs of identity theft.
You cannot underestimate the importance of your annual credit report. Your credit score is based solely on the information in your credit report, and a bad score could keep you from financing a home or a new vehicle. By checking your annual credit report you can keep track of what is going on with your credit and whether someone has stolen or tried to steal your identity. Even if you know you have bad credit, it is still a good idea to request an annual credit report. Though companies do what they can to verify identity, there are identity thieves that know their way around the verification process.
Reviewing your annual credit report may not stop identity theft, but it gives you one of the tools that you need to stop it quickly if your identity is stolen.
Tags: annual credit report, credit report, feature, free credit report, identity theft
Categories: Credit Report Companies , Credit Reports 101 , articles
