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Identity theft and its Effect on Credit Scores

By George Hauser
Published: Tuesday, December 15th, 2009

Identity theft can give much damage in a day. What more if you only found out after a year of identity exploitation behind your back. Having a credit card can be light in the pocket and convenient, but, what if it was stolen along with the most sensitive information during a robbery, a car nap or a house break in? You need to take action, you need to have the right contacts and know what you have to say. 

Credit score tips often underscore the need to always check for credit card report inconsistency. It is a major asset to know that your identity is safe and secure so that no other party is causing damage on your credit scores. Once your credit card and your identity are in the wrong hands, do know that anything can go and your credit scores can downgrade with a big impact if you do not settle the problems. 

Before your credit scores can reveal a back to zero situation because of identity theft, be sure to check for the signs using credible credit score tips. And if you think your credit card has already been compromised, then you need to take immediate action. 

Get better credit scores by keeping your identity safe with these credit score tips: 

  1. Prepare for the worst.
    It is difficult to prevent car thefts or house robberies since you never know when it will happen. However, if you use the technique of prevention, it will be easier. Do not keep valuable information inside your car, including passwords written in scratch papers. At home, keep a specific location that is clearly not a spot where you may hide important things. Skip the cookie jar though. 
  2. Avoid spilling in public.
    There will be a lot of times when you will need to tell your information over the phone and in public. If possible, restrict the information you deliver and do it discreetly. You may opt to get out of the crowd first before spilling the information. 
  3. Know what to do, in case of identity theft.
    In case of an identity theft suspicion, let every credit card company know this so that no new accounts will be opened in your name. Let the police know also, so that there will be a faster tracking for the thief. You may also file a report to the Federal Trade Commission and the credit card consumer report companies such as Trans Union, Equifax or Experian. 

Credit score tips must not focus solely in gaining scores. Becoming vigilant with your identity and keeping your credit cards safe and secure not only helps you avoid other people from damaging your scores, but you also save yourself from the load of trouble that you may get from identity theft. Credit scores can be improved and yet you must not miss the fact that you must keep these private in order to maintain a good reputation with your credit card companies. 

Identity theft takes months and may even take a year to fix. This will not only damage your credit scores, but it will also damage your name with all other credit card companies.

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