Posted February 04, 2018 09:00:00A lot of us have heard the term ‘credit score black hole’, and while it’s true that it can be a real threat, we should be careful not to let it get to the point where we’re being swindled out of millions of dollars.
Here are some tips to protect yourself from the potential damage your score could do if you fall victim to credit fraud.1.
Always know your credit scoresYou need to know your score for sure, as you’ll need to use it when applying for a loan or mortgage, getting a job, or even buying a house.
But it’s not a given you’ll always know what your score is.
To make sure you know your own, here are some guidelines to get you started.
Credit scores from credit reporting companies like Equifax and Experian are the most widely accepted and widely trusted.
For those who need to access your credit reports to check for fraudulent activity, you can find out what your credit report does and doesn’t contain by visiting your credit reporting company’s website.2.
Be aware of your scoreYou need an independent, reliable source to be sure you don’t fall victim.
This can include an online tool like Credit Karma or a mobile app like CreditScore.com.
Here’s a list of the top five free credit scores you can check on a daily basis.3.
Take a close look at your credit historyThe last thing you need to do when getting your credit scored is to put a stamp on it.
But if your score shows you’ve been delinquent on a loan, or you’ve failed to pay back a loan in full, it’s a good idea to have a close, ongoing look at it.
You can check your score by using a tool like the Credit Karma app or by contacting a credit reporting agency.
If your score isn’t what you think, there’s always the possibility you’ve overdrawn or used your credit incorrectly.4.
Always keep a log of all the credit informationYou can do this with a credit report, but it’s also a good way to track any new accounts you’ve opened or if you’ve received a line of credit.
If you’ve taken out a line-of-credit, it could be time to update your credit file.
You’ll need a copy of your credit agreement or the credit card statement for the credit cards you’re using, and you should also have your credit card statements from each of those companies.5.
Be proactive about your creditThe best way to protect against credit score damage is to make sure everything you do is as proactive as possible.
Make sure you regularly check your credit statement for updates and make sure to keep your credit accounts up-to-date.
Be wary of companies that offer free credit checks, or that offer credit score monitoring services.
If someone offers a free credit check, it means you’ll get a free score check for free.