Little Known Credit/Identity Theft Tips

  • Posted By
    Victoria Stephens

  • Published On
    Sat, September 3rd

  • Reading Time
    4 Minutes

Firstly it’s important to understand what your credit score is and how it’s determined. This could show insights into where yours may be falling down. A credit score is a number that represents an individual's creditworthiness. Credit scores are used by lenders to determine the probability that a borrower will repay a loan in a timely manner.

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There are several different credit bureaus in the United States, but only three that are of major national significance: Equifax, Experian, and TransUnion. The tri-bureau system is used by most lenders when considering loan applications. Credit scores range from 300 to 850, with higher scores indicating lower risk to lenders. A score of 740 or above is generally considered to be excellent.

Credit scores are based on credit history: number of open accounts, total levels of debt, repayment history, and other factors. Individuals with a strong credit history are typically rewarded with higher scores.

How Do I Know If Credit Repair Suits Me?

  • If your credit score is between 0 and 550
  • If you suspect there may be some errors or uknown transactions
  • If you are sure you have become a victim of identity theft
  • If your low credit score is affecting your ability to borrow for something important

Credit Repair And Identity Theft

Taking action in the event of identity theft can be daunting, but it's important to remember that you have rights and resources available to you. In addition to asserting your rights under the FCRA, consider taking a few additional steps to help protect yourself. These steps might include placing a fraud alert on your credit file, monitoring your credit report for changes, and contacting the IRS if you believe your tax return has been filed fraudulently. By taking these precautions, you can help minimize the damage caused by identity theft and regain control of your personal information.

A credit lock is a great way to protect your credit report from identity thieves. By locking your credit report, you prevent creditors from being able to access it. This can be helpful if you are worried about your personal information being stolen. If you apply for any credit in the future, you will need to unlock your credit reports so that the creditor can access it. Once the creditor has pulled your report, you can lock it again. A credit lock is a great way to protect your credit report and keep your personal information safe.

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