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Credit Report Tips to avoid falling prey to fake credit reports

By Karen Anderson
Published: Saturday, June 12th, 2010

A credit report is the grade book of an adult. Kids have to go to school, read up and then write exams to get good grades. But when it comes to the working man, he has to pay his bills on time and make sure he doesn’t default on payments in order to get a good credit report at the end of the year.

A credit report has important information which can broadly be categorized as personal information, public hearings, enquiries and credit history. Now all these pieces of information are very important for both the lender and the borrower or customer. There are certain miscreants out there who take advantage of this situation and benefit out of it. We shall try to understand all the different types of frauds committed and then we shall discuss tips to avoid them.

You might recollect receiving emails from various individuals or websites offering free or paid credit reports. You might have even given out vital information to these websites. But before doing so again, make sure you follow some ground rules.

People can use your information to make money. They can sell your personal information to various buyers out there. Your information could include everything from your name, your mother’s maiden name, your bank account number, your social security number to even your personal passwords. This technique of sending out emails to derive personal information is called phishing. When used to get solely your financial information it is called carding.

Here are some tips to prevent being duped by these anti social elements,

Whenever you get an email to your mail address asking you to register for a free credit report, never click on the link. Always try and contact the agency through the phone number that they have listed on the website which you got to through the link.

Secondly, when you receive an email from a web address ending with a non typical .pk or .dn unlike .com, make sure you double check everything from that moment on.

And also check whether the email address matches the websites address. If there is a difference between the two, stop the transaction immediately.

Usually there will be a follow up mail if it is a legitimate site. If you do not receive this mail that means the service provider is not genuine, because a genuine provider will want to verify your details before sending you your credit report.

And always be aware that no website should ever ask you for your personal identification number or PIN. This is the three digit number at the back of your credit or debit card. With this information, any online transaction can be made and accounted to your credit card. If you are ever asked for this information, immediately log out of the website.

Basically it all boils down to simple common sense. And always make sure you order your credit report through the three agencies which are certified by the government to provide this service.

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