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Protecting your Credit
The Fair and Accurate Credit Transactions Act, better known as the FACT Act,
entitles consumers to one free credit report per year from each of the three
major credit bureaus (Experian®, Equifax, and TransUnionTM).
Three Ways to Order Your Credit Report
Online – Annual Credit Report
Phone – 877.322.8228
Mail – Print a request form from the Web address above, fill it out and send to:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281.
Remember, you may obtain one credit report from each of the three credit
bureaus. You may choose to request one report every four months so that you
are able to view your credit file periodically. If you request all three at
once, you will not be entitled to another free credit report through this
service for another year.
However, if you believe that you are victim of identity theft, you should
obtain one credit report from each credit bureau in order to make sure that
your information is correct with each bureau.
Your credit report contains information that determines your credit score.
Your score affects your ability to borrow money at attractive rates, get insurances
or even secure employment. It's important to understand the content of your credit report.
Here are some key areas to check. Information that reflect inconsistencies with
your actions or incorrect information could be signs of attempts to steal your
identity.
Inquiries: These should correspond to applications that you've made
for credit. Creditors, employers or collection agencies, however, might recheck
your credit periodically. These rechecks are shown as "inquiries" on your report.
Inactive Accounts with Activity: Thieves sometimes change the address
on inactive accounts and use them on their own.
Accounts You are Unaware Of: If an account is new, this may be a sign
that an identity thief has opened an account in your name. As a precaution, you
should close accounts you no longer use.
Unexpected Public Records: Pay attention to public records – court
judgments, evictions and liens, for example – that don't belong to you.
Unexpected Derogatory Information: Typically an identity thief will
incur a lot of charges and never pay for them. Look for unexpected past due items.
If you determine that you are a victim of identity theft, immediately report
your findings to your financial institutions and your local police. You should
also place a fraud alert on your credit report.
(Modified from PSECU e-News Letter)
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