BBB alert: Time to check your credit report
As daylight saving time ends at 2 a.m. today (Nov. 3), and we set our clocks back one hour, the Better Business Bureau urges everyone to take this opportunity to check their credit report. It’s a simple and free process.
“In light of the numerous data breaches, it’s crucial not to assume that your credit report remains uncompromised,” said Steve Bernas, president and CEO of the BBB. “Your credit file plays a significant role in various aspects of your daily life. It can influence your mortgage rate, your job prospects, and even your ability to rent an apartment.”
Identity theft is so serious and so prevalent, it’s not a matter of if, but when, your identity will be stolen.
“Even children’s identities can be compromised,” Bernas said. “So, monitor everyone in the family. The last thing you need is for a scammer to steal your identity and money — that’s why it is imperative to stay on top of it.”
“A con artist could apply for a credit card in your name, take money out of your bank account or run up fraudulent charges using your identity. That will show up on your credit report,” Bernas said.
Identity theft remains in the BBB Top 10 Local Scams of the Year. Stealing information also is a key component of many of the other top reported scams. With all the personal information on the internet, people must now be extra careful.
“It’s no longer enough to check your credit report once a year,” Bernas said. “We highly recommend that everyone check their credit report at least twice a year to ensure their vital financial information has not been compromised. The two biggest losses consumers suffer at the hands of fraudsters are financial and loss of personal information used in identity theft.”
If need be, you can check your credit report weekly for free at AnnualCreditReport.com. Make sure that you have the correct URL whenever you are online. Scammers create similar-looking or soundalike sites that are not official to steal your money and identity.
Additionally, don’t forget to check your smoke and carbon monoxide alarms. Since 2023, Illinois residents are required to replace their old smoke alarms with the type that has a long-term, 10-year sealed battery. For those who have not done so — resetting your clocks is the perfect time to remind yourself to make the change.
If you've encountered a scam, report it to BBB Scam Tracker. Sign up for BBB’s free consumer newsletter, BBB Edge, at BBB.org/ChicagoBuzz. Visit BBB.org or follow us @ChicagoBBB on social media. Look for the BBB seal, The Sign of a Better Business.