How can you avoid credit score scams? These are 7 key ways (2024)

FAQs

Why would a scammer want to know my credit score? ›

However, many people need to check their credit report, FICO score, or personal credit history more frequently, such as when talking to lenders about loans or mortgages. Scammers take advantage of these situations to steal money and sensitive information, such as your Social Security number (SSN) or credit card number.

Finding the person who scammed you can be challenging but not impossible. With the right approach, determination, and tools, tracing the scammer's digital footprint becomes feasible. Key strategies include: Reporting the scam to authorities for a professional investigation.

To find out who's checked your credit recently and to stay on top of future inquiries, review your credit reports often. You can request free copies from each of the credit bureaus or use www.AnnualCreditReport.com.

You can start by going to the three major credit bureaus, Equifax, Experian, and TransUnion first by logging on to AnnualCreditReport.com to check your report for free. Each agency gives you access to your report once every 12 months.

Pay your bills (on time)

Your payment history is the most important factor in calculating that score number - accounting for 35 percent of it. To avoid missing any payments, consider setting up automatic payments or creating a reminder of when bills are due.

You can improve a bad credit score by paying your bills on time, paying off debt, avoiding new hard inquiries and getting help building credit.

Actions that can lower your credit score include late or missed payments, high credit utilization, too many applications for credit and more. Experian, TransUnion and Equifax now offer all U.S. consumers free weekly credit reports through AnnualCreditReport.com.

How to raise credit score 50 points in 30 days? ›

There are several ways to raise your credit score in 30 days. Reducing your credit utilization is one of the fastest ways to raise your credit score, and you can do it by paying down debt, spending less, paying your bill more often or asking for a higher spending limit.

Patience is key here! It may take anywhere from six months to a few years to help raise your score by 200 points depending on your financial habits. As long as you stick to your credit-rebuilding plan and stay patient, you'll be able to help increase your credit score before you know it.

In fact, some consumers may even see their credit scores rise as much as 100 points in 30 days. Steps you can take to raise your credit score quickly include: Lower your credit utilization rate. Ask for late payment forgiveness.

Can Someone Steal Your Identity with Your Credit Report? Your credit report contains a lot of personal information, so it's a goldmine for identity thieves. With a copy of your report in hand, a potential fraudster might be able to see: Full name.

According to security experts, sharing just your three-digit Credit Score doesn't pose a very big risk as long as you're making it a point not to share personally identifying information from your credit report along with it.

Some employers use pre-employment credit checks to gauge your ability to handle money responsibly and to get a sense of your overall reliability. In some regulated financial industries, and in fiscal roles requiring state or federal licensing, pre-hiring credit checks are required by law.

Scammers can steal your identity by obtaining your personal financial information online, at the door or over the phone. What they want are account numbers, passwords, Social Security numbers, and other confidential information that they can use to loot your checking account or run up bills on your credit cards.