Are Credit Reporting Agencies Really Your Friend,

There are also a number of other methods they will use to determine your identity. It can be inconvenient when you want to apply for credit because you will also have to go through the process established to protect your account. Safeguarding your financial information is of great importance in today's world. You have no doubt seen some of the free credit score commercials on TV that have those catchy jingles. But those offers are for only one of your scores. A potential lender for a new car, home or credit card may not look at that credit score. They may pull a different one from one of the other major credit bureaus.

• Pinger Systems/Associated Credit Services Inc., 652 E. North Belt, Ste. #400, Houston, TX 77060
• Revolving credit card balances
• Credit scores
• Any documents containing personal information, should be shredded
• TRW Credit Information, 505 City Parkway West, Orange, CA 92667
• 39 states and the District of Columbia have enacted legislation

You credit score will be lowered in part by items that are in your "delinquent credit lines" section of your credit report. This section will list items that you have been late in making payments on, or have stopped making payments on. This may include a credit card you were late on once by 30 days over 2 years ago. It will also include items that are bad debt collections. The fact is that credit reporting has evolved to an industry all of its own. Just a few short years ago, when someone applied for a loan, he or she put down credit references - retail stores, banks, or other people or places with whom they had done business in the past.

This can be hard to do especially if you don't know the person well enough. As lending became more popular, reporting agencies started to form. The earliest form of these agencies was a company who put together a list of individuals who were supposedly high risk. With this information, the lender was at least able to know who not to lend money to.

I strongly recommend you to take these services.

When this alert is issued, these agencies do contact us through phone or letter prior to any offer of credit being extended in our name. Some credit-reporting agencies do offer their services to aid in the prevention of fraud. I strongly recommend you to take these services. Some of these companies do send email every time a creditor inquiry is made. 1. Keep your documents, containing your personal information, secure and never leave these documents unattended. 2. Any documents containing personal information, should be shredded. 3. Always shred your pre-approved credit card offers, promotional offers, any loans or utility bills if you are not storing them. 4. Don't give your credit card information to any one on telephone.

An example of this is a current real estate loan may only be reported to one or two of the reporting agencies. Maybe you defaulted on a cable TV account while you were in upstate New York and that cable company only reports to one of the reporting agencies. Now that you've moved to California, you do business with another cable company. CREDIT SCORE - your credit report scores are a rating determining you credit risk and the likelihood of defaulting on a loan. Lenders will use this score as a tool to assist them in deciding whether or not they will lend you money. Your credit score is a snap shot of your credit at that point in time, and can change on a daily basis.