Become Credit Savvy And Help Better Protect Your Identity

Thursday, March 1, 2018

Help Better Protect Your Identity (NAPSA)—How much do you know aboutcredit, credit reports,credit scores and how they work? Even if the answer is “not much,’there are resources avail- able to help you learn more aboutcredit and put youin the driver's seat. 1. Educate yourself. The three major credit bureaus—Equifax, Experian and TransUnion—haveinformation on their websites about how credit scores and credit reports work; whatcredit bureaus do; and how yourdecisions may impact yourcredit. You can alsofind information on the ConsumerFinancial Protection Bureau andFederal Trade Commis- sion (FTC)websites. 2. Consider restricting access. It maypay to learn more aboutyour credit score. online, by phone or by mail. In addi- Security freezes and credit report locks have the same impact on your credit reports, but there are differences. Learn- tion, Equifax has waivedfees to place, lift or remove security freezes until furthernotice. ally restrict certain access to your credit reports. Unless you temporarily lift or You can get a free copy of your credit report every 12 months from each of the three major credit bureaus on www. annualcreditreport.com. Verify that ing about them may help you decideif one mayberight for you. Both gener- permanently remove a security freeze, or unlock yourcredit reports, they can’t be accessed to open new accounts—with certain exceptions. ‘These may include: a. Companies like Equifax Global Consumer Solutions that provide you with access to your credit report or credit score or monitoryourcredit file b. Companies you have an existing accountorrelationship with c. Federal, state and local govern- mentagencies d. Collection agencies acting on behalf of companies you owe e. Forfraud detection purposes f. Companiesthat wish to make preapprovedoffers ofcredit or insurance to you g. Companies reviewing your application for employment. Equifax is now offering Lock & Alert, a free service that allows you to quickly lock and unlock your Equi- fax credit report using a computer or smartphone. You can freeze or unfreeze your Equifax credit report 3. Check your credit reports. your name and address is correct and carefully review your accounts. If you see something you think is inaccurate or incomplete, consider contacting your lenderor creditor. You canalso file a dispute with one of the three major credit bureaus. 4. Identity theft. Concerned about identity theft? You can place a 90-day fraudalert on yourcredit reports with the three major credit bureaus. Fraud alerts are free, and you only need to place a fraudalert with one bureau— the other twowill be notified. A fraud alert encourageslenders andcreditors to take extra steps to verify your identity before granting youcredit. If you have a police or FTC report showing you're the victim ofidentity theft, you can request a seven-year extended fraudalert. Learning more about credit may put you on the right path toward establish- ingresponsible credit habits, and may help better protect you against identity theft.

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