4. My credit report cannot be accessed by unauthorized people.
In order to get your credit history, a person has to simply get hold of your name, address, and Social Security number. This is not difficult for someone who knows you and your habit of carrying your Social Security number around in your wallet.
5. Senior citizens are the common victims of identity theft.
Senior citizens with little spending power are not the target of identity thieves. Most victims of identity thefts are aged 20-40.
6. I cannot ask for fraud alert if I have no proof of identity theft.
If you feel a fraud alert makes your accounts more secure, or suspect identity theft, you can ask for a fraud alert. You do not have to prove fraud to get an alert.
7. A fraud alert makes it mandatory for creditors to call you before approving loans in your name.
While the Fair Credit Reporting Act advises credit lending companies to call the person taking the loan before they sanction it, but it is not compulsory for them to do so. If the lender is unable to contact the applicant for some reason, the loan may simply be denied.
Clearing all misconceptions and becoming more informed is the first step towards protecting yourself from identity theft. It is always better to be safe than sorry, so take the first steps towards arming yourself with the right knowledge.
