Therefore, it is necessary that you must know how you are actually scored by different credit bureaus that give credit scores to consumers. In fact, not all consumers right now are aware of the implications of how credit bureaus score their respective credit accounts. The sad fact is, most credit bureaus also make this information secret from most of the American consumers. That is why it is important for you to know about score cards, especially FICO score cards, and how these affect your respective credit scores.

Remember that your credit scores are actually largely determined by score cards. Score cards are a kind of a pee group, in which you are classified according to peers which has more or less the same financial record. In this case, the peer group where you are bracketed would serve as your score card. This would then determine what range of scores you are going to have, whether consistently high or consistently low credit scores.

However, these credit bureaus actually make secret the standards when they would change your credit score. In this case, having a better financial record would not ensure that you will move to a better score card. Plus, moving to a better score card would not also guarantee that you are going to have a better credit score, due to the fact that that you may actually face more difficult scoring standards.

Another scoring mechanism that credit bureaus use is the FICO scoring system. The FICO was named from the Fair and Isaacs Company, which uses a specific kind of credit scoring system. The FICO system also uses peer groups to determine score cards. Such peer groups are actually grouped according to the creditworthiness of a person. In this case, the degree of a creditworthiness of a person would determine its bracket, and likewise, its credit score.

The FICO scoring system actually utilizes 12 scoring cards to help them determine and measure how creditworthy a person is. However, the problem is, the FICO scoring system only divulges three score cards. The rest of the other score cards are still left secret by credit bureaus. The three score cards that they divulged are the following:

1. the presence bankruptcy

2. having thin credit files

3. the relative ageing of credit histories

It is important for you to take note of the fact that not all kinds of peer groupings have the same scoring range to determine the credit scores of consumers. The FICO uses the 350 to 850 scoring range; however, being in bankruptcy makes it impossible for you to reach 850.

The first thing to remember as an identity theft protection tip, is to be cautious on giving out personal information or personal data to others, unless there is a reason to trust the person who will receive these information or data.

Identity theft can happen even at home so here are do’s and don’ts when it comes to giving personal information when at home:

1. Be watchful when giving unnecessary personal information especially on the phone. For example your credit card company is asking for your mother’s maiden name to verify your identity, don’t. Credit card companies already know these kinds of information, so it is very unlikely for them to ask you, the only reason of such a call is to acquire that information for that person’s personal benefit.

2. Also, be watchful with phone calls from someone you don’t know that offers you prizes, but asks you for personal information like Social Security Number, credit card number, or mother’s maiden name. Instead of answering these questions on the phone, ask them to send a written application form.

3. If they won’t send such forms, you should just hang up. And if they did send an application form, review the form carefully and before mailing it check the company or institutions reputation with the Better Business Bureau.

Being at home is already a risk of becoming an identity theft victim, and so much more when on travel. Here is also a to-do and not to-do list when it comes to giving personal information when on travel:

1. When you are away from home and on travel, you should have your mail held at your local post office, or ask someone you know and trust well to collect and hold your mail while you’re away.

2. And if there is a need to call someone and pass personal information while on travel, do it in a place where there is less people around.

Aside from being cautious when giving personal information, the next thing to remember as an identity theft protection tip, is to check financial information regularly. And when checking these financial records you should be careful in looking for what should be there and what shouldn’t be. Always keep a record of your transaction slips.

There should be monthly statements that list transactions for the reporting period for those people with bank or credit accounts. If there are no monthly statements, it is advisable for you to contact the financial institution or credit card company immediately.

And though these are effective identity theft protection tips, becoming a victim of identity theft is still possible. So as an advice, be vigilant; be very vigilant.