Yes, you can request a copy of your credit record from Veda Advantage/Baycorp. All you need to do is submit $29.95, including GST, and within one working day your credit file will be faxed, emailed, or posted to you. You could also sign up to receive email alerts anytime changes are made to your credit file. Alternatively if you are prepared to wait for it, you can obtain it free of charge. It will be dispatched to you within around 10 working days.
It is important to periodically check the information in your credit file so that you can be sure that the file has the correct information. Having a good credit record is very important because credit providers are accessing your file to determine whether or not they want to issue or deny credit to you. Veda Advantage does not issue you a credit score, but credit providers have their own method of scoring to determine if you are a good risk or a bad risk for credit.
If you have negative information such as late payments, account defaults, or have filed for bankruptcy, you still may be able to get the credit, but you may have a higher rate of interest. You certainly do not what to pay high interest if the higher rate is based on erroneous information. If you should happen to discover an error, it is to your advantage to dispute the information and have it corrected as soon as possible.
You also need to check your credit record for credit fraud. If a disreputable person should happen to obtain your personal information and use it to get credit, they not only can ruin your credit reputation, but you may be liable for the debt. If you suspect that someone has been using your credit information, it is very important to get a copy of your credit file as soon as possible.
Once you have proof that there is a problem, contact the police and report the crime. Then you need to contact the credit providers and inform them of the fraud and that it is being investigated. If you do not contact them, they may hold you responsible for the debt. Remember to keep notes of everyone you speak with and what you discussed. Note the name of the person you spoke to, the contact number, and the date you spoke with them.
Take measures to protect yourself against credit fraud. Check your credit file and become familiar with your credit information. Sign up for email notification when something is changed on your credit file. Do not give out your personal information, be sure that you dispose of your personal papers correctly, and shred your personal and financial paperwork.
When you get new credit cards, sign them immediately, keep them in a secure place, and do not keep your personal identification number with the card. Pay attention. If your cards are lost or stolen, or if you do not receive cards when you think you should, contact your financial institution immediately. If you do not report the problem, the credit provider will not have the information they need to keep your accounts safe, and you may end up liable for any debts.
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