Many people think that keeping close track of credit scores is only useful for when you want to get a loan. But there are actually other reasons that it is a good idea to monitor your credit score closely. One of those reasons is to help protect you from identity theft or fraud. By keeping a close eye on your credit scores you can catch an error or fraudulent activity early on. It doesn’t keep you from being vulnerable to fraudulent activity, but it does minimize the damage and helps make it a lot easier to clean up if it does occur. This is where UK Credit Ratings comes in. They are a company who can monitor your credit reports for you and notify you if anything suspicious occurs. There are lots of good reasons to sign up for their services.
Why do I need to protect my credit score?
Your credit score is very important for a variety of reasons. Here are just a few of the reasons you need to ensure your credit rating is protected:
- Protect you from identity theft or catch it early enough to keep it from being as damaging
- Be alerted to fraudulent activity such as opening a credit line in your name
- Offers updates on what seem like random events like change of address or name, or a lender’s query
- Peace of mind knowing that protection is in place to help prevent fraud or damage to your credit
- You work hard to get a good credit score protect it like you would if it was cash. Your credit score is used for loans, credit lines, mortgages and in some instances to determine employment.
What types of services will I get from UK Credit Ratings?
The services you get with UKCreditRating are deep but basically fit into three categories:
- Unlimited access to your profile and credit score – This allows you to review your credit score or report on a regular basis. Knowing your present credit score can give you leverage when applying for credit as well as letting you know if something suspicious has occurred. You can also see if there are errors which allows you to correct them.
- Instant Notifications – When you sign up for credit monitoring you will start receiving instant alerts when any change is made to your credit report. If you miss a payment or a new account is opened or a credit card company checks your report you will be notified.
- Closely monitored credit profile – UK Credit Ratings will monitor your credit report on a daily basis and assess it to ensure it is accurate and up to date.
What type of information is on my credit report?
Your credit report has quite a bit of important information like:
- Your personal information like name, address, date of birth, and employers (both past and present). This is compiled over the years from all the different applications that you have filled out.
- All of your credit history is also included on a credit report. This includes all the lines of credit you have opened in your name as well as all the details such as when your payments were made. It also contains any accounts you may have opened in the past but are now closed or inactive.
- Inquiries that credit agencies have made concerning your credit will be shown on the report.
- If you have ever filed for a bankruptcy, had a house or vehicle repossessed or have had any court judgments issued against you it will be on your report for as long as 6 years.
- If you open an account with someone else you are linked financially and this information will be contained on the report.
What is credit monitoring?
Credit monitoring is a familiar term which is used for checking your credit report on a regular basis to see if there have been any changes. Any activity can be reflected on your credit report. These are all culminated to create a single credit report which indicates your financial health. Actions on your credit report might include:
- When you apply for a new line of credit or new credit card
- When you apply for a new loan or mortgage
- When you apply for certain kinds of insurance
Credit monitoring can help you protect yourself from the misuse of your credit. When you hire a company to monitor your credit they will alert you to any changes that occur. These may be initiated by you but you will still be alerted; and in reality, they may not even have a negative effect on your score. But if someone else is trying to access your credit or credit report without your knowledge or approval, an alert from a credit monitoring company like UKCreditRating can mean all the difference in the world.
What is identity theft?
Identity theft occurs when someone uses your information, poses as you and makes purchases usually by credit in your name. By checking your credit report on a regular basis you will notice as soon as something appears out of the ordinary. This can be a sign that someone has stolen your information and is trying to use it to apply for credit.
What do I do if I think I’ve been a victim of identity theft?
If you have any reason to believe you have been victimized you should:
- Contact organizations that issued your credit or debit cards and report them stolen or lost.
- Check your credit report to see if there are any accounts you did not open.
- Check with your postal provider to ensure your address has not been changed and change it back if it has.
- Keep a log of all your calls, emails and letters made pertaining to the fraudulent activity. This can help you get it sorted out more quickly.
Why should I get UKCreditRatings?
You need a reputable company to help you keep track of your credit score and one which will alert you to any questionable activity. It’s important to protect your credit rating so you can get the best insurance rates and interest rates on credit cards and other loans. Here are a few reasons you should contact UK Credit Ratings:
- Free 7 day trial to see if you like their services
- No obligation to purchase anything past the 7 day free trial
- Low monthly membership of only £19.95
- Easy to contact customer service if you have a question
What are you waiting for? Register with UKCreditRating today to protect your credit rating and to help prevent identity theft or fraud.