Credit Report

Overview

A credit report contains a compilation of data which represents an individual’s credit history.
This type of sensitive financial information is gathered from sources like banks, credit card companies, financial institutions, and collection agencies.
It is updated regularly by the official credit reporting bureaus: Equifax, Experian, and TransUnion.

The credit report and credit score reflect a person’s financial standing and creditworthiness.
As such, they deeply affect the ability to purchase or rent a home, buy or lease a car, get a loan, apply for a credit card, get affordable insurance rates, or even land a new job.

Professional credit reporting services on the internet help people to get a clear picture of their credit health and protect themselves against the risks of credit fraud, as well as inaccurate or incomplete information reporting. Users can also prevent identity theft and get tools to better manage their financial future.

Most players in the online credit reporting industry provide some or all of the following features to individuals and businesses:

• Single / Three Bureau Reports
• Free Credit Report
• Credit Score
• Credit Monitoring & Alerts
• Identity Theft Protection

Consumer Tips: How to Remain Safe and Avoid Credit Report Scams Online

Just like any other field that involves consumers and financial services, the credit reporting sector also has its fair share of scammers, fraudsters and cybercriminals that operate online and look for potential victims.

Scammers use a variety of illegal, unethical, or other dishonest ways to take advantage of people who just want to get their credit information. These scammers want to con them out of their money.

Some deceptive websites promise a “Free Credit Report” but use sneaky ways to trick the users into submitting their credit card information, which is then used to charge them for the “free” report or for other related services.

Phishing emails often mirror official-looking messages that appear to be sent from legitimate credit reporting agencies.
These fraudulent emails can easily fool consumers into sharing their financial and personal information, which may result in money loss or identity theft.

Taking the following steps will help you to find credible and reliable companies, as well as obtain your credit history information in a safe way:

Avoid Clicking Email Links

Received an email that offers a free report or free credit monitoring? Be very cautious and use a hefty dose of skepticism!
Do not click on any embedded link which could take you to a fake site.
Instead, type in the official website address directly on your browser, do not share your credit card details, and use your common sense before submitting any information to the website.

Avoid paid “Free Trial” Offers

Walk away from free trial offers that require credit card details from the user.
If you forget to cancel your membership before the trial period expires – and many do – your credit card will be charged, often on a monthly basis.

Investigate the Credit Report Company’s BBB Record

Check the company’s record on the Better Business Bureau’s website.
What you’ll find there will help you to evaluate whether it’s a legitimate business that deserves your money and trust or if you need to look elsewhere.

Look for current BBB rating, customer reviews, complaints, warnings and alerts on their business profile.
In addition, learn how long it has been in business – a potential indicator of experience and reputation.

If the business is not even listed with the BBB, this is a very bad sign.
On the other hand, if the service is certified as a BBB Accredited Business, it’s an important positive signal.

Pay Close Attention to Red Flags

Learn how to better protect yourself when ordering goods and services on the internet. This helps you to avoid scammers and keep safe in general.
Knowing how to check if a website is legitimate or not is the first line of defense.