Feb 24th Identity Theft and Remedy

Mr. Gordon Chin of Clear Choice Credit briefed us on how credit rating is done and the criteria for good scores. He further explained what counts towards good scores and what doesn’t. In the event of derogatory items in your credit history, how they would affect your credit scores and for how long. Extending on that, he suggested the many ways to cost effectively build and maintain high scores. A good credit rating enables us to get a quick approval with a good rate for a loan. A good credit rating is also an essential indicator to screen tenants for our rental investments.
As to ID Theft, scam mails and data breach are the two most common events in which ID Theft happens. Credit freeze, credit monitoring and Fraud Alert are the tools you can use to prevent damage to your rating. Filing tax early is another way to avoid people stealing your tax refund through tax identity theft.
The question and answer session was most useful for our audience to understand the issue under different scenarios.