Protecting Credit

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Protecting Credit

Important Tips For Protecting Your Credit

In today's society, it is not your word or your character which incites the most trust, it’s your credit rating. Without a good credit rating, you can't open a checking account, rent a car, get a credit card, buy a house, get a small business loan, get a student loan, or literally thousands of other items that are a part of life. The list tells us that since most people buy these items on credit, we need to maintain a good credit rating and report and get the highest credit score that is possible.

To do this, you need to protect your credit. Today your credit score is second only to your family, and your time is your most important asset. Your credit score is what enables you to seize an opportunity or to loose it. To flow with the demands of life or to loose out. Therefore, it is very important for you to protect your credit information because a damaged credit report will result in higher interests and fees. And NOBODY wants that!

Here are several ways to go about protecting your credit:

1. Buy a shredder, for $25, and shred all documents with your birth date, social security number, your old tax forms, any credit card numbers and receipts, or junk mail that has identifying information on it, etc. You can’t be too careful with Identity Theft as high as it is today.

2. Check your credit report at least once a year and get accustomed to it. Clean up any discrepancies you find, and keep your payments on time. If an account or credit card has been closed for seven years, an inquiring company should not be able to see it. This includes bankruptcies or other derogatory information. Keep the number of credit cards at a minimum.

3. Take your name off “mailing lists”. The less opportunity for your identity to be in print, the less likely someone can steal it!

4. Make photocopies of all credit cards, driver’s license, social security cards, etc. so that in case of theft, you can quickly communicate with all your lenders. Same with your vehicle and insurance. You wouldn’t want someone to have that information either!

5. Secure your paper files even if your children are grown and especially if you have roommates. A simple file with a lock will be sufficient and keep everything in one place very nicely. Family Fraud is not a pleasant thought, but is fairly common, so err to the side of caution, and don’t advertise your assets and liabilities.

6. If you have a few credit cards, it might be wise to invest in a credit card protection program. This would be for your own benefit. There is usually just one number for you to call in case of emergency. Most credit card companies have these programs for an option for about $9.95.

Keep in mind that by protecting your credit you’re protecting your family, house, car, and virtually your manner of living. And you’re worth it!

These are six simple, yet very important tips for you in securing and protecting your credit and you can be doing these as you are establishing or restoring your credit. Your credit record is now more secure from a thief trying to ruin your credit score that you’ve worked so hard to raise and maintain. Now you are taking control of your financial situation and can plan a successful future!

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