Credit report monitoring

Credit report monitoring

We have come across stories where con artists and frauds dupe the people and possess their cash and other valuables. It is shocking to know that the cons here work for years and make their plan successful. The identity fraud has become so common that the people use DIY method, which is do it yourself method where the cons plan their trap all by their selves and deceive people.read other helpful information from the original source.

The protective credit bureau makes observations and tracks the chances of monetary fraud. They get special reports from their sources and monitor any possible crime and work to avoid it. The credit bureaus make sure they have the whereabouts of all the people at all times. Even if we make a new email address, it is stored with the bureau within minutes. And then they add it to the person’s credit report shortly. In fact, even if we apply for a new Master Card, they get the news and update it in their credit report. Their systems are very quick and they have the information of every act they do. This is the reason why the identity of the users is protected with the help of protective credit bureau.

There are frauds that hack the identity of the people and claim to be them. They have access to the social security number. It becomes really dangerous when someone acts to be someone else and have access to their name and credit. They can do anything with the information and misuse it.

Credit report monitoring has become really important with time due to the frauds increasing so much. Had the credit report monitoring was not there, the users wouldn’t have come to know about the fraud happening with them. fir instance, suppose the yearly report was checked thoroughly checked by the user and nothing suspicious was found in that. Just in a month or two, a crook opens three new accounts for a credit card with a new address; the person will not even come to know about it till the next year’s report comes out.

The second reason why a credit report monitoring has become important is that the cons get the address of the Master Card changed to a new address and the user does not even come to know about it. He continues to pay the bill and the money is being spent by the imposter.

In some cases, the imposter applies for more than one loan in the victim’s name and he/she is not even aware of what has happened. And if they run away after taking the loan, the blame falls on the user. The person will not even come to know that there was a person posing to be him since so long, applied for loans with his name and disappeared later. Had the credit report monitoring not been there, the people would have remained in dark and kept falling in the trap of the cons.view more information at http://wate.com/2015/03/10/6-on-your-side-answers-how-far-does-free-credit-monitoring-go/

There a lot of reasons why the imposters steal the identity. Some of them do this just for the credit reasons. They apply for credit cards in the name of the victim and spend lavishly, when the credit limit is over, they run away and disappear. But some of the imposters have another reason; they in fact pay the minimum amount every month but still continue to pose like someone else.

Credit report monitoring

The happenings would have never come in view had the credit report monitoring was not there. Whenever a new account is opened in the name of the victim, or a new card issued or even the address changed for that matter, the victim is informed and necessary actions are taken against the person

Leave a Reply

Your email address will not be published. Required fields are marked *