Password notice of correction for ID Theft - any consequences?

Killua

I made a previous thread where I may be a target of identity theft after accidentally giving out personal details. I have the option of writing to the three credit reference agencies (Experian, Equifax, and Callcredit) to place a password onto my credit report. Will this look badly upon me to lenders in the future? Any reason not to do this?

Thanks

Westminster

Can’t see any negative outcomes from that course of action.

Be aware that you will no longer be able to get instant online decisions as any application you make (or any fraudster may make) will need manual checking.

Killua

Westminster wrote: »

Can’t see any negative outcomes from that course of action.

Be aware that you will no longer be able to get instant online decisions as any application you make (or any fraudster may make) will need manual checking.

Thanks for the reply, when I do decide to make any application I can simply request to remove such passwords right?

[Deleted User]

You would have to wait for them to action that request.

And I'm not sure if you can keep requesting it be added then removed all the time

Killua

I think I will go ahead and do it for the peace of mind. I never had made any applications online for loans/credit that need instant decision and don't plan to do so.

Westminster

Sounds like a reasonable plan.

sparkey1

I have done this. What it means is that most applications, but not all, may require intervention. So for example, I opened up a current account in branch. The chap opening the account got a message alert to phone a different department. I gave them the password and it was fixed. Worth doing for peace of mind, but you will find your applications wont be immediate,

T-G-C

Killua wrote: »

I think I will go ahead and do it for the peace of mind. I never had made any applications online for loans/credit that need instant decision and don't plan to do so.

Most companies these days perform automatic decision making and the population remaining who do not is considerably smaller than who do.

As companies have smaller underwriting teams, especially for lenders that now use automatic decision making, obtaining a credit card from beginning (making the application) to the end (receiving both card and PIN) could take up-to a month, rather than 7 working days.

You should apply a Notice of Correction with caution and consider CIFAS protective registration instead. It is directly designed to combat fraud and lasts 24 months from activation.