Do you know your credit score?

If you are someone who checks your credit score regularly, congratulations — many people don’t. It’s best to check your score regularly, as it is a fluid number. So, if you see your score fluctuate, don’t panic, as your credit score may change due to a number of factors:

• Did you max out a credit card? Life happens, as they say. Unforeseen medical expenses or emergency purchases, for instance, may cause you to max out one of your credit cards. If you are unable to pay off the balance in full, pay as much as you can each month. Try to pay more than the minimum payment and make sure you pay on time. This may help boost your score over time, as you demonstrate financial stability and build (or re-build) a solid payment history.
• Did you recently apply for a new credit card, auto loan or mortgage? When you’re in the market for a new home or a new car, potential creditors will check your credit history. These inquiries stay on your record for some time, and too many such inquiries could have a negative impact on your score. Try to limit the number of loan applications you complete and the preliminary credit inquiries you approve.
• Is there suspicious information on your credit report? Verify the information on your credit report with all three reporting agencies (see below). If there’s an entry you don’t recognize or that seems questionable, check into it, as it could mean you’re a victim of identity theft.
• Have you been the victim of ID theft? If you believe that you’re a victim of identity theft or fear that you may become one — for example, if you lost your wallet, gave personal information to a stranger, or your house was burglarized — take these steps immediately:
1. Start a log. As you make phone calls, keep notes of your conversations; make copies of all correspondence to and from authorities and financial institutions, including dates, names, and phone numbers.
2. Contact the credit bureaus. Call or visit the websites of the three major credit bureaus and ask that they issue a fraud alert and attach a statement to your credit report. Also get copies of your report from each of the three bureaus:
• Equifax: (800) 525-6285 or www.equifax.com
• Experian: (888) 397-3742 or www.experian.com
• TransUnion: (800) 680-7289 or www.transunion.com
3. Call the police. File a report of the crime with your local police department.
4. Identity Theft Victim’s Complaint and Affidavit. Download this form from the Federal Trade Commission at www.ftc.gov/idtheft and complete it as soon as possible. When you refuse responsibility for a new account or transactions on an existing account, creditors may accept this affidavit.

For more information visit ftc.gov.

To help protect against the risk of credit card theft/Identity Fraud, Farmers Insurance offers free Identity theft protection as an added benefit within Home Insurance. For more information about Identity theft protection or other benefits of the Farmers Home Insurance product that make it industry leading, contact The Wertzberger Agency at 913-383-3276.