How often do you get a credit report??? * Important *

[packers11]

How often should I get a credit report???

I know they offer 1 free one once every year, but is that enough???

Should I have it checked every month???

Every couple months???

How do you guys do it, im sort of new to this whole thing... (I'm asking just in case someone has gotten a hold of my information, I wouldn't want to be surprised with a hugggeee bill)...

[packers11]

^ I ask this question because I am a bit worried, I left my wallet in a restaurant and it had my credit card and social security number (NOT SMART, I KNOW, I needed the SS card for the bank, and happened to leave it in my wallet) ... I went back the next day, it looked like it wasn't touched but I want to make sure NO ONE is screwing around with me...

[GBRulz]

I would suggest checking it at least every 6 months. But considering what just happened to you, I would start checking it monthly for at least 3-4 months.

I pay for a credit monitoring service that is like $12 a month. It alerts me via email of any changes to my credit report. It may seem like overkill to some, but compared to the money and time it will cost if your identity is ever stolen, it's well worth it IMO. You may want to consider this option right now, most of these monitoring services offer a free first month. You can always cancel before you get billed. Chances are, if someone has your SSN, they're going to start ordering credit cards sooner rather than later.

[packers11]

I pay for a credit monitoring service that is like $12 a month. It alerts me via email of any changes to my credit report. It may seem like overkill to some, but compared to the money and time it will cost if your identity is ever stolen, it's well worth it IMO. You may want to consider this option right now, most of these monitoring services offer a free first month.

Can you link me to the company???

12$ a month is nothing to me compared to what people could do to my credit...

BTW Thanks for your input :)

[retailguy]

you can pull one free one each year from each of the three credit bureaus.

pull one bureau each quarter.... and save your 144 per year for dinner with your wife, or some hot chick.

[Scott Campbell]

^ I ask this question because I am a bit worried, I left my wallet in a restaurant and it had my credit card and social security number (NOT SMART, I KNOW, I needed the SS card for the bank, and happened to leave it in my wallet) ... I went back the next day, it looked like it wasn't touched but I want to make sure NO ONE is screwing around with me...

I do that all the time unfortunately. I think you're only on the hook for $50 for each credit card as long as you report it promptly. Check your bill for suspicious charges. IMO, that's the best way to defect fraud. Reconcile each line item on your bill monthly.

You can get free credit reports here:

https://www.annualcreditreport.com/cra/index.jsp

[GrnBay007]

Someone once told me....and I could swear it was from a bank, that having your credit report run too much can actually damage your credit rating. Is there truth to this?

[SkinBasket]

Someone once told me....and I could swear it was from a bank, that having your credit report run too much can actually damage your credit rating. Is there truth to this?

I've been told that as well.

I agree with SC. I've had my CC # stolen three times, and every time, I caught it before the CC company did because I check my on-line statement 2x a month. Never been liable for any charges.

Checking your credit report more than 1 or 2 times a year seems a bit like overkill. If I were you, I would check once after a month and again after three if I were worried.

[Scott Campbell]

Someone once told me....and I could swear it was from a bank, that having your credit report run too much can actually damage your credit rating. Is there truth to this?


Yes, I beleive so. It's an indication that you might be trying to apply for a lot of additional credit all at once.

For instance, it could tip off creditors that your Dad cut off your credit cards right before you headed to Atlantic City to show your new red headed girlfriend that you're a big shot.

The previous example was completely fictitious, and does not depict the financial debacles of any current or FORMER members of PackerRats.

[GrnBay007]

The previous example was completely fictitious, and does not depict the financial debacles of any current or FORMER members of PackerRats.

LOL!

[Bretsky]

Someone once told me....and I could swear it was from a bank, that having your credit report run too much can actually damage your credit rating. Is there truth to this?


That would be true; I've seen individuals apply of a mortgage and then to go a broker and after the broker sends the file to multiple underwriters different investors pull their credit and four months later it has dropped 40-60 points.

It all comes down to personal preference. I tightly monitor my couple credit cards to make sure my wife's shopping is real and beyond that personally I check my credit once every few years.

But in my profession I tend to be an optimist and am compensated better for thinking that way. It's what I do...well......at least for most things :lol:

[GBRulz]

Someone once told me....and I could swear it was from a bank, that having your credit report run too much can actually damage your credit rating. Is there truth to this?

That is nothing but a myth. Credit inquiries can ruin your score, like when you apply for things, but it can't be lowered from just looking at it yourself.

http://www.creditlearningcenter.com/display.php?content_id=14

Another example.....

Do Credit Report Inquiries Lower Your Score?
Your credit report includes more than your record of paying bills. One section of the report lists inquiries. These are records showing who has accessed your credit report. There are various purposes allowed for companies to look at your credit report.

Your credit card company may monitor your report to review your account with them. This type of inquiry appears on your credit report, but does not affect your credit score.
Creditors and insurers review your report to see if you qualify for an offer. These “preapproved” or “prescreened” offer reviews do not affect your credit score. (For information on how to stop preapproved reviews, see www.privacyrights.org/fs/fs1a-basics.htm.)
You apply for a job and the employer orders your report. This inquiry does not affect your credit score.
You check your own credit report. This will not lower your credit score.
The only credit report inquires that can lower your credit score are applications for new credit.

[GBRulz]

^ I ask this question because I am a bit worried, I left my wallet in a restaurant and it had my credit card and social security number (NOT SMART, I KNOW, I needed the SS card for the bank, and happened to leave it in my wallet) ... I went back the next day, it looked like it wasn't touched but I want to make sure NO ONE is screwing around with me...

I do that all the time unfortunately. I think you're only on the hook for $50 for each credit card as long as you report it promptly. Check your bill for suspicious charges. IMO, that's the best way to defect fraud. Reconcile each line item on your bill monthly.

You can get free credit reports here:

https://www.annualcreditreport.com/cra/index.jsp

Checking his credit card statements are only part of his worries though. With his SSN, someone can open lines of credit all over the place and he would have no way of knowing this without looking at his credit report.

[MadtownPacker]

Packer11 - Contact one of the big 2 credit places www.equifax.com www.experian.com or www.transunion.com and see if they can put a lock on your credit. This will make it so no one can get credit in your name without a verification process. I think you can do it for 90 days at a time at your request but if you wanted it long term you would have to file a police report for ID theft. Still, you can get some peace of mind for the next 90 days.

[Bretsky]

Someone once told me....and I could swear it was from a bank, that having your credit report run too much can actually damage your credit rating. Is there truth to this?

That is nothing but a myth. Credit inquiries can ruin your score, like when you apply for things, but it can't be lowered from just looking at it yourself.

http://www.creditlearningcenter.com/display.php?content_id=14

Another example.....

Do Credit Report Inquiries Lower Your Score?
Your credit report includes more than your record of paying bills. One section of the report lists inquiries. These are records showing who has accessed your credit report. There are various purposes allowed for companies to look at your credit report.

Your credit card company may monitor your report to review your account with them. This type of inquiry appears on your credit report, but does not affect your credit score.
Creditors and insurers review your report to see if you qualify for an offer. These “preapproved” or “prescreened” offer reviews do not affect your credit score. (For information on how to stop preapproved reviews, see www.privacyrights.org/fs/fs1a-basics.htm.)
You apply for a job and the employer orders your report. This inquiry does not affect your credit score.
You check your own credit report. This will not lower your credit score.
The only credit report inquires that can lower your credit score are applications for new credit.


Maybe we are discussing credit pulls in a different manner. If a financial institution, credit card company, loan shark pulls a full credit report that shows your scores it will have an impact on your scores. I've seen it first hand and several credit reports say right on the report that the number of recent inquires have an adverse effect on your credit score.

Curious, do these places just do a credit review w/o pulling an entire report with scores ? Maybe they are doing a partial pull this is not being reported back to the bureau's ?

[GBRulz]

Maybe we are discussing credit pulls in a different manner. If a financial institution, credit card company, loan shark pulls a full credit report that shows your scores it will have an impact on your scores. I've seen it first hand and several credit reports say right on the report that the number of recent inquires have an adverse effect on your credit score.

Curious, do these places just do a credit review w/o pulling an entire report with scores ? Maybe they are doing a partial pull this is not being reported back to the bureau's ?

B after I read your post again, I think we are referring to different things. I think you are more so talking about applications where an institution has to check credit. If going through a loan process, getting a new CC, etc, yes those situations will all impact your credit score. Basically, anything that has to do with an individual being granted credit for something is when it hurts you. Inquiries that you do on your own, or maybe an employer does as part of the employment process (very common these days) will not impact you at all. Nor does it show up on your report as an inquiry, which I don't like it all. I think anyone that views my report I should have a right to know about and it should be listed.

I can certainly understand why people get confused, but I just hate for people to avoid keeping an eye on their credit report because they are afraid that by doing so, it will damage their score.

[packers11]

Thanks everyone for the advice... I am calling one of the credit companies now to put a 90 day lock on my credit as we speak... And will be checking up on my credit report every month for a couple of months...

Thanks again... :)