Your Credit Report: Dealing with Credit Card Identity Theft

When it comes to your credit report and identity theft the toughest cases to deal with sometimes often is credit card misuse. It can be a challenge to have certain charges removed unless you have paid for some kind of identity theft insurance.

Even if you do not have any type of identity theft protection you can still take action. These steps will help you:

  • Get your free credit report. You are entitled to one every 12 months from the three major U.S. credit bureaus. You can order them online or call Experian, Equifax, or TransUnion directly.
  • Check for mistakes. A shocking 70% of all credit reports as of 2003 were said to have errors. Make sure you highlight or mark all the errors you see and then number or code those items somehow in a dispute letter.
  • Provide all necessary dispute information. For instance, when you dispute errors on your credit report you should provide your full name, social security number, and address.

You should also provide your current phone number and properly marked references to credit report mistakes. It helps to give an explanation why there is an error and to give your signature along with a copy of your marked credit report.

  • Write comments in your credit report. This is another right not many consumers realize they have. You can actually make a comment on your files pertaining to being a victim of identity theft and to have future creditors contact you directly before offering new financing.
  • Place fraud alerts on your file. This will reduce further instances of your identity being stolen. It may not always help but most companies nowadays do check credit reports so it may help.

About Fraud Alerts

If you want to place a fraud alert on your credit report you can. The initial one lasts for 90 days. This often is done when no fraudulent activity has occurred. An active duty fraud alert is similar and lasts for up to a year.

There also is such a thing as an extended fraud alert. This can remain on your file for seven years.

This extended fraud alert requires proof of identity as well as the filing of an identity theft report with a law enforcement agency. It is easy to prove you have been defrauded as long as you have kept all documentation.