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Even when making the right decisions car buyers with poor credit need to be cautious when it comes to sharing their personal information online at this critical time.
But a press release from the Texas Society of CPAs reminds us that these same buyers need to watch their offline habits, as well.
Car buyers hoping to raise their credit scores with high risk car loans could see much of their hard go to waste – especially over the holidays. The reason this might happen is their improving FICO scores could make them a larger target for identity thieves.
So if a good credit score means more opportunities for credit thieves while a poor one doesn’t, how do fraudsters know the difference? As it turns out, they probably don’t.
Car buyers hoping to repair their credit should have an understanding of some of the latest schemes used by skilled fraudsters.
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.
One of the quickest ways to exit the highway to better credit is by having your identity stolen. And even though this is less of a threat to consumers with bad credit, it’s still possible that someone could be making your credit profile look worse even as you’re trying to make it better. Here are some tips from the STOP.THINK.CONNECT campaign to follow this holiday season:
But in addition to using car loans with bad credit to rebuild your credit and improve your FICO scores, you should also monitor any changes in your credit reports. There are a number of ways to do this and today we’ll go over a few of them.