In the United States, the Credit Score is a very important element for citizens who wish to lead a quiet and normal life, at least financially. Without a good Credit Score it is impossible to get a mortgage, among many other elements. Thus, achieving a good number in this regard is essential to live well.
However, it is not always possible to get a high number in the Credit Score, although sometimes failures can make someone get a huge advantage in this regard. Also, on another note but related to this, impersonation can be something that can bring serious problems, although sometimes it can be to the advantage of the impersonated citizen, as in this case.
If someone gains access to our Social Security number or our personal information and applies for a mortgage in our name it can be a problem, but if it turns out that they make a timely payment on the loan we can have very big benefits. In that case, our Credit Score would go very high and we could get advantages for the future, although not everything is as good as it seems.
Can someone increase my credit score?
The truth is that yes, there is a possibility that someone, without knowing it, can increase our Credit Score. And we’re not just talking about the possibility of someone stealing our Social Security number or impersonating our identity, at least intentionally.
If the mortgage issuer makes a mistake, which is more common than it may seem, it could result in the loan officially ending up in our name. Just as we are talking about credit, we could be talking about a mortgage or something similar. If that is the case, our Credit Score will increase only if the person who originally applied for the loan pays on time.
This will make us obtain a benefit, since our Credit Score will allow us to apply for a mortgage in the future. However, it is a double-edged sword, since it can cause us problems if the other person stops paying taxes. Be that as it may, it is also true that it is within our responsibility to avoid this type of situation.
To get a high credit score remember to:
- Pay your loans on time.
- Do not get too close to your credit limit.
- Have a long credit history.
- Make sure your credit report is free of errors.
Getting a Credit Score is almost as important as increasing your Social Security checks, so try to do both while you’re working.
Should I report if someone impersonates me and increases my Credit Score?
Although it is true that increasing your credit score is always good news, doing it through this type of action is not very advisable. As soon as the official entities discover the situation, they may even take action against us.
Thus, the ideal in these cases is to review directly all our credit. According to MoneyWise, any movement in mortgages or credits that we have not requested must be claimed immediately. Although we must watch out our Credit Score, it is also true that we must avoid being ruined by this situation.
