| A credit report is information about each | | | | and your credit history. |
| person that is used by financial institutions | | | | |
| to determine whether or not to give you | | | | It's important to monitor your credit report |
| credit. A credit report contains vital | | | | and your monthly bills and watch for 'red |
| personal information about a person as well | | | | flags' that may symbolize that you have |
| as employment information and credit use | | | | become a victim of identity theft. Some of |
| information. Your credit report is given to | | | | the red flags to watch out for on your credit |
| anyone who asks for it when they have your | | | | report are: |
| permission, primarily banks and other lending | | | | |
| institutions who are considering giving you a | | | | - Several loan applications made in quick |
| loan or a mortgage. | | | | succession at a variety of agencies. |
| | | | (Especially if you have no recollection of |
| It is vitally important that you check your | | | | doing so.) |
| credit record at least once a year from each | | | | |
| of the three credit reporting agencies. Each | | | | - Many hits on your credit report for loan |
| agency may have different information about | | | | and credit applications over a long period of |
| you and your credit history, so it's | | | | time. Some identity thieves are very tricky |
| important to check all three. They all offer | | | | and go slowly with credit applications so as |
| one free credit report a year and this is an | | | | to not raise any alarm bells. |
| important step to maintaining good credit and | | | | |
| for avoiding identity fraud. | | | | - Any application made out of state. |
| | | | |
| In your credit report you will find | | | | It is important that you thoroughly read your |
| information about your life - as a person, | | | | credit report and make note of anything on |
| such as your mailing address, Social Security | | | | there that you do not recall. You can always |
| Number, phone number, birth date, etc. You | | | | request a change to your credit report and if |
| will also find information on your employment | | | | you suspect that you are the victim of |
| history and your borrowing/credit history. Of | | | | identity theft, head to the police station |
| course, the most important part of the credit | | | | immediately with your credit reports in hand. |
| report is the information about your history | | | | |
| with credit and how you use it. Identity | | | | It is a sad and unfortunate truth that |
| fraud can seriously tarnish your credit | | | | anyone, even you, can fall victim to identity |
| report in a hurry, most fraudulent people | | | | fraud. For the thieves, we usually make it |
| who've stolen an identity don't bother to pay | | | | quite easy - throwing away bills with |
| the creditors back. Your report will show you | | | | information on it about us in our trash, |
| a history of your credit applications and | | | | throwing away application forms for credit |
| histories, having too many applications is a | | | | and not being vigilant with our online |
| negative on your credit report as is having | | | | financial dealings. |
| too many unpaid, late or delinquent payments | | | | |
| on your bills. | | | | It is important that you protect yourself |
| | | | from becoming a victim of identity fraud - |
| The three major credit reporting agencies are | | | | monitor your credit report and immediately |
| Experian, Equifax and TransUnion. Lenders | | | | report any suspicious activity on your report |
| obtain your credit report from one of these | | | | to the credit reporting agencies and your |
| agencies, all of which have similar, albeit | | | | local police. |
| not exactly the same, information about you | | | | |