digital divide network - article database

Your credit score is the most valuable aspect to your credit usage. It’s the gauge that lenders and creditors use to see if you’re financially credible. It’s a prudent move to always make sure that your credit score is good.

Credit protection is required if you want to help protect your credit score. It also helps prevent credit card fraud. It’s a measure that you could initiate on your own and with the help of a third party as well. There are available credit protection services that you could get for a fee or for free. They automatically check your credit every day and notify you via email if any unauthorized activity is detected.

There are credit holders who practice checking their credit scores. However, they are only given close estimates of their actual credit score. There are sites and services that provide you with these close estimates, but the provider of the closest possible credit score that you can have does not provide a free service.

This level of prudence can sometimes be too overwhelming. Consumers often fret that constant credit checking by lenders, potential employers, and creditors will negatively affect their scores. The truth is that credit checks do not affect your scores. Even hard inquiries made by potential lenders are treated as one hard inquiry. There are also occasions when these hard inquiries do not impact your credit scores at all.

Means to Protect Your Credit Score

Staying alert about your credit score can be a tedious endeavor but it has its rewards at that. You cannot deny the fact that your good credit needs to be safeguarded at all times. These days, you just can’t afford to lose the perks of having a good credit status especially if you’re planning to purchase a home or a car a few months from now. The following are some proven ways to protect your credit:

1. Make sure to safeguard your credit cards at all times.
   
   
   • It’s advisable to just carry a maximum of two credit cards in your wallet. You just can’t afford to lose both of them and devote time-consuming efforts to resolve identity theft problems with both cards at the same time.
     
     
   • Just memorize your PINS and passwords. It’s not a very good idea to keep a list of your PINS and passwords in your wallet or purse. Never write the credit card PIN at the back of your credit card.
     
     
   • If you lose your card, immediately notify the authorities and your credit issuer. This way, the card could simply be deactivated and you get issued a new one that you could immediately use.
     
     
2. Secure your credit card number.
   
   
   • You should shield your credit card when you use it at cash registers. You’ll never know who wants to steal from you.
     
     
   • Never give your credit information or any sensitive information to people who contact you. Be sure to contact any establishment first so that you can be sure of their intention.
     
     
   • Record every transaction well.
     
     
3. Always check the receipts you get.
   
   
   • Review your billing statements every month and compare your receipts against them. This will verify any unauthorized activity. If you see anything erroneous, immediately refute it.
     
     
   • Make sure to shred all your financial documents after you’re done with them.
     
     
4. Use a virtual card or a single use credit card for online purchasing.
   
   This is a credit card that has a different number from your main credit card. The hackers won’t be able to access your account even if they steal the information from the virtual credit card.

It’s a great feeling to be able to stand up to identity thieves and credit scammers. Through the tips provided, you will be able to effectively protect your credit score.

Kedy is an active blogger who is fond of sharing interesting finance related articles to encourage people to manage and protect their finances. She also covers topics on importance of identity monitor and tips on how to check credit score.