Identity theft – the stealing of your name, birth date, social security number and/or personal identity number (“PIN”) by a thief who then fraudulently applies for and acquires, in your name, credit cards, health insurance, cell phone services and the like – is one of the fastest growing crimes in America.  However, there are a number of things you should, and shouldn’t. do, to help protect yourself from becoming a victim of this crime.

Three links to websites, about credit cards, credit scores, and the credit industry.

The following three websites provide information about FICO credit scores (the most widely used credit score) and what consumers should and shouldn’t do to help improve their FICO credit score:

“FICO – FRIEND OR FOE” is an article from Bankrate.com that gives a good overview of FICO and FICO credit scores (note however, BestMoneyinfo.com would not steer consumers to credit counseling services, as this article does): http://www.bankrate.com/brm/news/special/20020125a.asp 

The following website, provides a list of things that consumers should and shouldn’t do (much of it, just common sense) from the Fair Isaac Corporation, the company that developed and provides FICO credit scores: http://www.myfico.com/CreditEducation/ImproveYourScore.aspx

The following is a U.S. Department of Commerce website that provides an overview of  “[T]he weights and factors assigned to different credit history factors used for the FICO score[.]” http://www.mbda.gov/?section_id=3&bucket_id=131&content_id=2287&well=well_2

Annual Credit Report Request Service – one number at which you can order all three of your free, annual credit reports from Equifax, Experian and Trans Union: 1-877-322-8228.

Equifax

• To order a copy of credit report, call: 1-800-685-1111
• To report fraud, call 1-800-525-6285 and write to P.O. Box 740250, Atlanta, GA 30374

Experian

• To order a copy of credit report, call: 1-888-397-3742
• To report fraud, call 1-888-397-3742 and write to P.O. Box 2104, Allen TX 75014

Trans Union

• To order a copy of credit report, call: 1-800-888-4213
• To report fraud, call 1-800-680-7289 and write to P.O. Box 6790, Fullerton, CA 92634

The National Credit Reporting Association (NCRA) – a trade group representing small regional credit agencies – in combination with an organization known as Pay Rent, Build Credit Inc. (PRBC) is creating an alternative credit score tracking and reporting service for consumers.

Cardratings.com is a website run by Citizens for Fair Credit Card Terms, Inc., a Little Rock, Arkansas based organization that provides information to consumers about credit in general and credit cards in particular.  The organization is “…an independent source of consumer information and are not owned or governed by any banking or credit card interest”.

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While credit cards can, and for many people, often do cause (sometimes severe) problems, they have, nonetheless, become a fact of life.   In his new book – “How You Can Profit From Credit Cards” – Curtis Arnold illustrates the pitfalls of credit cards, while also illustrating how to best use credit cards, and make them work for you.  “How You Can Profit From Credit Cards” covers topics such as:

• Credit Card traps and scams
• Credit Card reward offers
• Finding the best card for you
• And, much more.