A few days ago I read the MSNBC News that ID thieves are targeting kids in stealing their credit. Apparently this is not uncommon and what makes it even worse, most of these thieves didn’t get caught until years later. Imagine your kids trying to apply for student loan or buying their first car, and their applications are being denied because they own a yacht? Anybody would think that is a big joke, right?
There are several ways to protect your kids credit score :
1.
Never give out your kids’ social security number
One would think where do these thieves get the social security number? Some said it might be from the pediatrician office, although I don’t remember ever giving my son’s out. I don’t even know what my son’s SSN is. Bottom line is, never give out your kids’ SSN, and if all the sudden you start getting calls or mails from collection agency in regards to your kids, or even some credit card offers and the likes, you should be suspicious that something is up.
2.
Check your kids’ credit score
Obtaining children’s credit score is different from obtaining adult’s because they are protected under Children’s Online Protection Act. Unless your kids are being chased by collection agency, you should check your children’s credit score once they turn 16. If you find any errors, you have two years to dispute. It’s going to be a lot of hassle in doing so, but it might be worth it. Checking your kids’ credit score too early will only put your kids’ record out in the public.
The bad news is thieves will always find ways to get away with anything. The good news is this has been a common problem that some companies offer free credit score , which can be used to help parents protecting their kids’ identity. ID theft on kids is horrendous, but it can be fixed.
These tips are taken from msnbc.com and Chicago.CBSlocal.com .
Tags: credit score , free credit score , ID theft on kids
