Avoiding Frauds In Free Credit Reports
Credit reports are detailed and specific credit history prepared by a credit bureau to help lenders determine the credit worthiness of a borrower. Credit report carries information about borrowers’ address, how borrowers pay their bills and or whether borrowers have filed for bankruptcy. With sites that provide free credit reports from all 3 bureaus, they provide these pieces of information to insurers, employers and creditors. Free credit reports are given by government recognized credit bureaus such as the Equifax.
How to Obtain a Credit Report
Credit report is done by different credit bureau and can be obtained in many ways. Credit reports can be obtained online. Websites provide reports from credit companies to borrowers. This is a popular means of getting credit reports. However, keep in mind that, there are still fraudulent sites that offer special arrangements and agreements. Some sites allegedly offer free credit report with a catch. They will offer the credit reports to be accessed for a number of times and then charge users after certain number of use. Credit reports can also be obtained through telephone or email.
How to Avoid Fraud
Because of the existence of different means to obtain credit reports, frauds become prevalent. Once your identity has been stolen, report it at once to all major credit bureaus and request a Fraud Alert to be placed on your credit profile. Doing so would prevent identity thieves to open an account with your information. You can also report the incidence of identity theft to the Federal Trade Commission.
Finding genuine websites that offer free credit reports requires great effort. So, you should make sure that you read the terms of agreement before signing up in a website. Make sure privacy is maintained once you share your information in a website.