Fight Identity Theft by Regularly Monitoring and Reviewing Your Credit Report

Friday, December 27 at 09:45 AM
Category: Personal Finance

December is Identity Theft Prevention and Awareness month. What are you doing to protect your identity? We want to remind you to regularly monitor and review your credit report so you can detect any signs of whether or not your identity has been compromised.

The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months. The FCRA promotes the accuracy and privacy of information in the files of the nation's consumer reporting companies.

The Federal Trade Commission (FTC), the nation's consumer protection agency, enforces the FCRA with respect to consumer reporting companies. A credit report may include information on where you live, how you pay your bills, whether you've been sued or arrested, or have filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers and other businesses that use it to evaluate your applications for credit, insurance, employment or renting a home.

Here are the details about your rights under the FCRA, which established the free annual credit report program.

Q: How do I order my free report?
The three nationwide consumer reporting companies have set up a central website, a toll-free phone number and a mailing address through which you can order your free annual report. To order, visit annualcreditreport.com,* call (877) 322-8228 or complete the Annual Credit Report Request Form.* Mail the completed form to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. Do not contact the three nationwide consumer reporting companies directly. They are providing free annual credit reports only through the methods mentioned above.

You may order your reports from each of the three nationwide consumer reporting companies at the same time, or you can order your report from each company one at a time. The law allows you to order one free copy of your report from each of the nationwide consumer reporting companies every 12 months.

Warning about "imposter" websites
Only one website is authorized to fill orders for the free annual credit report you are entitled to under law — annualcreditreport.com.* Other websites that claim to offer "free credit reports," "free credit scores" or "free credit monitoring" are not part of the legally mandated free annual credit report program. In some cases, the "free" product comes with strings attached. For example, some sites sign you up for a supposedly "free" service that converts to one you have to pay for after a trial period. If you don't cancel during the trial period, then you may be unwittingly agreeing to let the company start charging fees to your credit card.

Some "imposter" sites use terms like "free report" in their names; others have URLs that purposely misspell annualcreditreport.com in the hope that you will mistype the name of the official site. Some of these “imposter” sites direct you to other sites that try to sell you something or collect your personal information.

Annualcreditreport.com* and the nationwide consumer reporting companies will not send you an email asking for your personal information. If you get an email, see a pop-up ad, or get a phone call from someone claiming to be from annualcreditreport.com or any of the three nationwide consumer reporting companies, do not reply or click on any link in the message. It's probably a scam. Forward any such email to the Federal Trade Commission at spam@uce.gov.

Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Tags: Credit History, Financial Education
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