Based in Valencia, California, Think Credit Reports offers people the ability to monitor their creditworthiness and continuously receive updated credit reports from Experian, Equifax, and TransUnion. Think Credit Reports’ services are particularly vital, given an increase in identity theft, which can have an outsized impact on people’s ability to get loans and mortgages or to get them at good rates.
Identity theft can derail individuals’ financial well-being in a number of ways. In cases where a personal credit card is used fraudulently, victims may be unable to promptly pay for the extra charges that have accrued. By the time that the situation is resolved by the lender, long-term damage to the credit report (which is difficult to undo) may have occurred. This threat is particularly acute when thieves redirect bills to new addresses, resulting in cardholders being completely unaware of fraudulent transactions that have gone through. Identity thieves may also target personal savings and checking accounts, draining funds in ways that make it impossible for victims to pay mortgages, rent, and bills before irreversible harm has been done to their credit score.