Preventing Bad Credit Identity Theft

The purpose of financing a bad credit car is to establish auto credit but if you are the victim of identity theft your credit scores could still drop
Preventing Bad Credit Identity Theft
What we can tell you

People with bad credit often don’t realize that their credit scores could drop even further even while they’re financing a car with no credit auto loans.

Although it might seem far-fetched, we’ve heard of this happening because we’ve spent 20 years in bad credit car sales here at Auto Credit Express. It’s also a reason our web site features a resource section covering topics such as FICO scores and child support income as well as what we’ll be discussing today, identity theft.

Identity theft

One of the quickest ways to derail the trip to better credit is having your identity stolen. And while this is less of a problem for consumers with poor credit, the fact is that someone could be causing your credit scores to drop even as you’re trying to raise them, as these excerpts from an article by Equifax Canada point out:

Equifax Canada Fraud Prevention Tips

Consumers who are aware of the potential threats and who take preventive steps to protect their personal identifiable information are significantly less likely to become victims. Here are some of the easiest and most effective ways to combat identity theft:

Review your credit report regularly – Check your credit report at least once a year.

Consider subscribing to a credit monitoring service… so you can act before serious damage is done.

Handle your financial accounts and transactions online – Consumers who frequently monitor their accounts online are most likely to uncover fraud the fastest.

•    Check your bank, credit card or other financial account web sites for suspicious or unauthorized activity.
•    Avoid mailing checks to pay bills; instead pay bills online and take advantage of new remote deposit check imaging services and online banking sites. Install and regularly update firewall, anti-spyware, anti-virus and browser security software.

Limit the information you share on social media sites – Consumers who have used social media tools for at least five years are twice as likely to be victims of identity theft (Javelin Strategy & Research, 2011 Identity Fraud Survey Report).

Never provide personal information unless you initiate the contact.

•    Do not click web links when responding to e-mails or text messages, rather go to the site directly.
•    Do not respond to automated phone messages or callers prompting you to dial a number or provide personal identifiable information to resolve a bank account issue.

Shop on secure web sites – Online retailers should display an approved security symbol and the transaction should be conducted on an encrypted site.

Reduce unnecessary access to your personal information wherever possible – Do not carry Social Security cards or unused credit cards.

Be aware of your surroundings when transacting in public. Cover your keypad and any screens that display sensitive data.

As we see it

The purpose of the no credit auto loans our dealers offer is to establish your auto credit and improve your FICO scores. By following the advice from Equifax Canada you can avoid any detours on the road to better credit.

If you’d like to begin that trip, we want you to know that Auto Credit Express can help you find that dealer who can offer you your best chance at getting approved for poor credit car loans.

So if you’re serious about getting your car credit back on track, you can begin right now by filling out our online car loans bad credit application.

Posted on February 26, 2012 by in Auto Loans, Bad Credit, Online Security
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