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Last Updated: Nov 25th, 2007 - 10:09:00 |
One of the best ways to protect yourself from identity theft is to monitor your credit history. Starting on December 1, 2004, Californians and residents of other western states will be able to do that for free. Thanks to a new federal law, consumers can get one free credit report a year from each of the three national credit bureaus: Equifax, Experian and Trans Union.
Checking your credit reports at least once a year is a good way to detect signs of identity theft early. The sooner identity theft is discovered, the easier it is to clear up. Checking your credit reports also lets you identify errors that could be raising your cost of credit.
How to Order Your Free Reports
Starting December 1, 2004, California residents can order their free credit reports through a toll-free phone number, a Web site or by mailing a standard order form.
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www.annualcreditreport.com
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877-322-8228
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Mail order form* to:
Annual Credit Report Request Service
P. O. Box 105281
Atlanta, GA 30348-5281
You will have the option of requesting all three reports at once or staggering them. You could create a no-cost version of a credit-monitoring service. Just order a free report from one credit bureau, then four months later from another, and four months after that from the third bureau. (That approach won’t give you a complete picture at any one time. Not all creditors provide information to all the bureaus. Monitoring services from the credit bureaus cost from $44 to over $100 per year.)
How to Review Your Reports
To check your reports for errors or possible signs of identity theft, look particularly at three areas.
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Look in the Personal Information or Personal Data section. Look for addresses where you’ve never lived. Make sure your name and any variations of it, your Social Security number and your employers are correct.
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Look in the Accounts sections. Look for any accounts you didn’t open. Look for balances on your legitimate accounts that are higher than you expect.
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Look for Inquiries or Requests for Your Credit History that you didn’t make. There are two types of inquiries. “Regular” or “hard” inquiries are the ones that result when you apply for credit or when an account is transferred to a collection agency. This is the kind of inquiry you should check as possible identity theft or error. The other type, “promotional” or “soft” inquiries, would not be an indication of problems. This type includes pre-approved credit offers, checks for employment purposes, account monitoring by your existing creditors and your own requests for your report.
You can view sample credit reports, with the different sections explained, on the Web sites of the three credit bureaus: Experian Sample Report, Trans Union Sample Report, Equifax Sample Report.
What If I Suspect Identity Theft?
If you see anything you believe is incorrect, contact the credit bureau immediately. You can call the telephone number on the report to speak with someone at the credit bureau. If you find evidence of identity theft, the next steps to take include contacting any creditors involved to close fraudulent accounts and filing a police report. See the Identity Theft Victim Checklist on our Identity Theft web page for more information on what to do.
Consumers in Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming will be able to get a free credit report annually starting December 1. Residents of other states will get the same right as the law is phased in over the next year.
*For a copy of the order form and more information on your access to free credit reports, click here. |
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How to "Freeze" Your Credit Files
One tool available to Californians to protect against identity theft is "freezing" your credit files with the three credit bureaus: Experian, Equifax and Trans Union. Married couples would have to freeze the files of both spouses. Find out how to do this in our Consumer Information Sheet 10: "How to Freeze Your Credit Files," with related sample letters. It's the last item on our Consumer Information Web page.
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