Credit Fraud and Your Credit Profile
Do you want to protect your report and score from credit fraud? Get armed with the necessary information and you can end up with fraud at its root.
There are different types of credit card fraud - the use of a credit card in a dishonest way.
Credit scam - the use of pre-approved bad card applications, no and good credit cards to make the potential card holder pay beforehand fee to obtain a card.
In case of stolen card fraud a thief makes unauthorized purchases on the lost or stolen card until the moment of its cancellation.
Credit identity theft is an unauthorized use of personal identification information to commit fraud or other crimes. Fraud spree - unauthorized charges on existing accounts.
View your credit report and scores and make credit card fraud detection, if, by some sad coincidence, you've become the victim of card scam, online card fraud or Internet card fraud, identity theft fraud or credit union fraud.
Check your credit report on the subject of bureau fraud (report fraud). According to credit card fraud law, you can report card fraud to Federal Trade Commission (it performs card fraud protection and card fraud punishment), if the value of fraud is over $2000.
Read our articles about the ways of your credit score protection!
What Else You Should Do
What are the measures of credit card fraud prevention? Read our articles or books about credit card fraud and you'll learn how to recognize fraud far off.
Putting credit bureau fraud alert on report is a good variant that will help prevent identity theft. If someone tries to install an account in your name, the application will be delayed until you personally consider the information. Basically you can choose among initial fraud alert for 90 days or extended fraud alert for some years. To initiate fraud alert on your report, call fraud toll-free number of any of credit bureaus.
Please, be ready to when you apply to a bank or loan center, you may wait for the decision longer because of fraud alert, put by reporting bureau. But on the other hand, your scores will be sound. To learn more get acquainted with our articles on credit cards.
Whatever credit cards you are holding (good or fair score cards, secured or unsecured cards for people with low score) do your best to avoid credit fraud. Here are the sources of fraud (the ways credit thieves gather your personal information):
- using lost or stolen credit cards;
- stealing from your mailbox;
- looking over your shoulder;
- going through your trash;
- sending unsolicited e-mail;
- false telephone solicitation;
- looking at personnel records.
Be careful, keep this information in mind, when you apply for a card or loan, small business loan or make use of your credit. By correct credit behavior you'll contribute to the increase of your score and building a strong credit history.
First obtain secured bad rating cards, pay them off, and check your report and score. You'll be glad to discover, that cards for fair rating with different perks and benefits will be to your service. Show you are a responsible person, make your payments in full and in a timely manner, thus making the way to cards for good history. Use you chance to establish good credit!