The fact that you can get a free credit report is a sign of just how important your credit and
knowing what's in your report has become. Employers often check your credit report before
they'll hire you, landlords before they rent to you and insurance companies before they grant
you insurance. With your credit being checked for much more than car loans and mortgages,
there's never been a better time to get your free credit report.
One of the most important reasons for getting your free credit report is to alert you to the
signs of identity theft or credit card fraud. Because the credit system was designed to give
easy access to credit, there are many ways to steal your personal information and mess up your
credit.
Identity theft occurs when a person uses your name and identification without your knowledge
to establish credit and other accounts. Every piece of paper or document that has your Social
Security number, driver's license number or credit card number makes you vulnerable. Even
something as seemingly innocent as a pre-approved credit card offer can supply a thief the
opportunity to wreck your credit. If a thief steals the offer from your mail or trash, he can
simply change the address to his and have a credit card in your name. But you could spot this
fraudulent account in your free credit report.
A thief could also pose as a landlord to a credit bureau and get a copy of your credit report
which has your Social Security number and all your credit account information. Or he could buy
a report from a crooked employee at a legitimate business. And because he'd be using your ID,
any crimes he committed would be charged against you. Victims of identity theft have been
detained and arrested because of this. But getting your free credit report would let you know if
someone was posing as you.
Even though you're not responsible for a thief's actions, you bear the responsibility for the
tattered credit he leaves behind. The Federal Trade Commission has a telephone hotline to
help victims of identity theft and it finds victims pay an average of $1173 to clear up their
credit and their lives. And this doesn't take into account their time spent, loss of credit
and reputation, or the anxiety of waiting as new creditors confront them over unpaid bills.
Getting your free credit report doesn't eliminate the chance for identity theft, but it can help
lessen the damage.
To get your free credit report and free 30 days of credit monitoring, please go to
free instant credit reports.
