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In a digital age, identity theft is a practical worry for most people. Identity theft, if left unnoticed, can have major financial ramifications on your life. In regards to your credit report/score, identity theft has a direct impact on it. If an identity is stolen and accounts are opened, it is a safe assumption the thief is most likely not going to pay the accounts (and if for some reason they did, it most likely wouldn’t be on time) and these open accounts will turn delinquent. These delinquent accounts will hurt your credit score until your credit report has been fixed.

Ways to Prevent It

There are some simple precautions people can take to help prevent identity theft. Often times, banking institutions use social security numbers as the default login. Change this immediately. Never use your social security as a login when you have the option to change it. Your social security number has the potential to be lifted from the cookie when you use it to login. Also, do NOT log into financial, or sensitive accounts from open WiFi spots (coffee shops, sandwich shops, etc…). It is possible for someone on the same open/unencrypted WiFi connection, to use specific software to see what you are typing/viewing on the internet. Only log into sensitive accounts (bank, email, work, etc…) from trusted and encrypted locations.

Credit agencies are now offering monitoring services that can help reduce or even prevent identity theft. These monitoring services will notify you anytime a credit line or account has been opened in your name. This way, if it is not an authorized account by you, you can deny it. This can greatly help cut down on identity theft. Also, view your credit report regularly. By doing so, you can see what accounts have been opened and if there is any suspicious activity in your name.

If you believe you have been a victim of identity theft, be sure to contact your bank, credit card company, and the credit reporting agencies to have any information removed from your report that is a result of identity theft. This will allow your credit score to remain intact and unpenalized.

Original article from: Increase-Credit-Score.com

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