You should check your credit report annually. This is an easy process, that does not take much time to do, and it can help you to catch identity theft. If you have become a victim of identity theft you should check your report more often. You are entitled to check your credit report once each for free.
First you should go to annualcreditreport.com and follow the instructions on the site. You will need your social security number and other personal information in order to access the information. Be prepared to identify past addresses, loans and other information that you should know regarding your financial history.
Next you will need to click on the links at annualcreditreport.com to visit each of the three different credit agencies. You should get a report from Transunion, Equifax, and Experian. You can access each of these reports once a year for free, and you may opt to check one every four months. This gives you the opportunity to check for identity theft more frequently.
As you check each report, you will be given the opportunity to print each report out. The report may also be accessed online for a short period of time after you check it. You can print your credit report so that you can double-check any loans and other reports that may be on it.
When you look at your report you should make sure that you recognize all the accounts that have been opened in your name. You need to check for any late payments or default notices as well. If you do not recognize an account, you will need to look into it and dispute it if someone else has opened it up. You should also make sure that all accounts that you have closed say closed on your credit report.
You may also have the option to check your credit score when you pull your credit report. You do have to pay to see your credit score, and so you may decide not to check this. Your credit score is a number that banks use to determine whether or not you are a risk to lend money to. If you do not have much credit or if you have been late on payments the number will be lower. If you are not planning on borrowing money in the next year, you may not need this information.
Once you have printed your credit report, you need to store it in a secure place. This will contain all of the information a thief would need to steal your identity. If you throw it away you should shred the document.
If you notice a discrepancy on your report you should act immediately. If it is apparent that your identity has been stolen, place a fraud alert on your credit report. This will prevent other lenders from allowing the thief to continue to use your identity.
