Online credit report fraud is a big threat; here is what you need to know

.The current administration has not been doing a lot to help consumers, and the bills passed during the last five years have been particularly harsh on the poor and debt ridden segments of our society. One of the few good things for the average consumer to come out of Washington recently is the law allowing consumers to access their credit report for free. The law authorized the three main credit bureaus to set up and manage a Website that will give American consumers access to one free copy of their credit report, per bureau, per year, either online or through the mail. That has worked well so far, and traffic to the free online credit report has been brisk.

A few problems have come up as a result of the creation of online access, however. Several hundred entrepreneurial types have created Websites with similar names to the official site, which is called AnnualCreditReport.com. These other sites have been designed to fool consumers who may be searching for the free credit report site without knowing its actual name. They find one of these other sites, assume that it’s the one they’re looking for and then begin to fill out forms with their personal information. If they are lucky, they get a copy of their credit report in the mail, only to find out that it isn’t free, or that they have paid for some other “service”, such as a monitoring service, in addition to getting the “free” report. At worst, they find that their personal information has been stolen by someone looking to use it for identity theft.

There are a few simple things you can do to avoid being a victim of online fraud:

The Website can be accessed directly, but if you’re concerned, you might connect using the link at the site of the Federal Trade Commission. The FTC is the government agency responsible for handling financial fraud; you’re safe if you click on the link from there.

Be aware that the official Website will not ask you for a charge card. Any site promoting a “free” product that asks you for a charge card number is probably going to charge you for something or just steal your number. The real site will not ask for a card number; not even for “verification” purposes.

The actual site will not make offers via e-mail, popup windows or any other exotic Internet advertising method. Don’t respond to any such method, as it may be an attempt to steal your personal information.

The free Website is a great idea, and consumers should have free access to their personal financial information. Just be careful that you don’t get ripped off in the process. If you have any doubts about the Website, just call them at 877-322-8228. Alternatively, you can order your copy by mail: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Copyright © 2005-2007 by Retro Marketing. All rights reserved.