Traveling? Protect Your Identity and Credit

 

Know Your Credit Rights 
Consumer reporting agencies, including ChexSystems, are regulated by the Fair Credit Reporting Act and Fair and Accurate Credit Transactions Act.

Below are five of the important rights these laws give you:

1.   You are entitled to a free copy of your ChexSystems report annually (if you have a report).

2.   You have a right to dispute errors in your report. In most cases, ChexSystems must investigate and remove any inaccurate information within 30 days.

3.   Access to your report is limited to those that have a legitimate business need to see it.

4.   If you believe that you have been the victim of identity theft, you can place a security alert or freeze on your report. An alert notifies financial institutions that your identity was stolen and that if someone tries to open an account in your name, they should verify that it is actually you. A freeze prevents any institution that does not have a preexisting relationship with you from accessing your report.

5.   If the information in your report is used to take adverse action against you, the financial institution must notify you of the fact, and you are entitled to obtain a free copy of your report from ChexSystems within 60 days.

Some insights on credit and identity theft from three major credit card companies: 

American Express identity theft assistance- safeguard your identity

MasterCard on identity theft

Visa how to avoid Identity theft