How to Spot Suspicious Activity on Your Credit Report
Keeping an eye on your credit reports is key in this day and age of rampant identity theft and electronic transmittal of information that makes having your identity stolen more likely by some thieves. Everyone should check their credit reports at least once per year by getting their free copy of their credit report that the federal government determines every citizen has a right to - this includes getting the free reports for your children (which should be blank). Better still to check your credit two times a year, and the best option of all is to engage the protection of an identity theft protection service.
If you are on top of your credit reports on a regular basis, one question that you might have and many others do, is “How do I know if something fishy is going on with my identity?” There are several key indicators that can tell you on your credit report that your identity might have been compromised:
- An Address Listed Where You’ve Never Lived: One method of identity theft begins with having your address changed on a credit card or other loan so that you do not receive the bills. The thief is then free to shop to their heart’s content on your dime and you will never hear anything about it because the bills (then threatening notices for payment) are going to a bogus address.
- A Credit Card or Bank Account You’ve Never Opened: One of the most clear indicators of a problem is several accounts listed on your credit report that you yourself did not open or authorize. Identifying legitimate creditors is not always easy, however, so if you see one that you do not recognize, before you assume your identity has been tampered with, contact them with the information that is given on your credit report to verify the company name and the account.
- An Employer that you’ve never worked at: For one prominent type of identity theft - stealing identities in order to provide a legal status of employment - this will be a key indicator. Your credit report lists the employers that you’ve had for the last ten years or so. If one of them looks unfamiliar to you, it might be the employer of someone else. This is another area where you should be cautious about jumping the gun, however. Many employers operate under a DBA (doing business as) name that you recognize and perhaps answer the phone with, but are actually registered under a different name or perhaps they use a professional employer organization (PEO) for doing their payroll and checks, in which case, your employment will be reported as being with that company.
If any of these items appear on your credit report, the first thing you should do is try to contact the creditor yourself to verify the debt. Contact information for all of your creditors should be listed in your report as either an address or telephone number. If you are unable to contact them or to resolve the issue, then you should contact the credit reporting agency directly with your suspicions.
