Credit Theft Danger Signs

Common Danger Signs to Look For

1. Change of Address – Most people may not think too much about seeing an extra residence address on their credit report that never belonged to them. They may just assume it’s an error, which it may be. But it could also be the beginning of I.D. theft. Check with your creditors and make sure your address was not changed.
2. New Credit – If you receive a statement for a new credit card or notice it on your credit report this is a danger sign. Someone may be opening credit in your name and will soon use the credit line and then disappear. Act fast by first calling the creditor and explaining what you have found.
3. Unrecognized Inquires – If you see an inquiry on your credit report from a business or entity you didn’t apply with for credit, investigate it. Once again, someone may be opening new credit in your name and this is just the first alert.
4. Unauthorized Use of your Credit – Review your monthly credit card bills closely. I.D. theft can involve using your entire credit limit very fast or making small purchases occasionally in an effort to see if you are monitoring your credit before an even bigger hit. Once again, if you see anything you didn’t purchase, call your lender immediately to report it.

Mistaken Identity

With almost 300 million people in the United States, a few crossed credit records can be expected from time to time. Finding someone else’s credit data on your report is especially widespread for people with common or shared family names that live in the same household. If you find an account on your credit report that doesn’t belong to you, contact the credit reporting agency who is reporting it so that the data can be investigated and corrected.