Credit Monitoring
Identity thieves rely on “operating” undetected, as long as possible.
They need time to:
- Open accounts in your name and run up bills.
- Change mailing addresses on your existing accounts, exhaust your credit limit and spend the money in your bank account undetected.
- Use your identity to get hired for a job, rent an apartment or buy a house.
- Apply for benefits and get medical care under your name.
How to Obtain My Credit Report
Monitoring your credit is a sound strategy to detect identity theft as early as possible.
Credit activity is regularly reported to the three credit reporting agencies.
Under Federal law, you are entitled to one free credit report each year from each of the three credit reporting agencies. Some states also allow a free annual report.
You can order your free credit report online from www.annualcreditreport.com and have immediate access to the information.
Order all of your free credit reports at the same time, OR use your free reports to monitor your credit three times a year. If your state allows for a free credit report, you are entitled to additional credit reports.
Tip: Access your credit report from a private computer. You will need to enter your social security number. Identity thieves will know how to access history stored on a public computer.
For more frequent credit reports, you can:
- Purchase a credit report each time you want one. You need to follow up and order your credit report.
- Subscribe to a credit monitoring service.
If you are a busy person and don’t want the hassle, a credit monitoring service may be the best option. Credit monitoring services provide notification of activity on your account. Fees apply and services vary by monitoring service.
What if you find indication of identity theft?
If you find incorrect items or accounts listed on your credit report that do not belong to you, take immediate action to dispute the information with the credit reporting agency at:
If you suspect fraud, place a fraud alert on your account.
A fraud alert will notify any creditors to take additional steps before they extend credit under your name. This step will also make it harder for you to get credit. You only need to contact one of the three credit reporting agencies; the agency you contact will notify the others. The fraud alert will stay in your account for 90 days. Extended fraud alerts are also available.
Contact the agencies at:
- Equifax: 1-877-576-5734; www.alerts.equifax.com
- Experian: 1-888-397-3742; www.experian.com/fraud
- TransUnion: 1-800-680-7289; www.transunion.com
Contact creditors, about any unrecognized accounts. Report the fraud immediately, by phone and follow up in writing.
File a police report and then file a report with the Federal Trade Commission at
http://www.ftc.gov/bcp/edu/microsites/idtheft/consumers/filing-a-report.html
Once you are a victim of identity theft, a credit monitoring service may be your best option to prevent further fraudulent use of your information. Attempts to access your credit may continue after the initial assault. The thief may have sold or passed your information to other thieves. Credit monitoring can be a defensive strategy to manage future assaults.