How do CC companies know I'm not lying when I state my income?

Night-owl_6

http://www.cifas.org.uk/

Night-owl_6

General Tips

• Treat your personal data as 'confidential' - don't give it away easily.
• Destroy any document showing your name, address or other details before discarding. This includes documents such as bank statements, utility bills, pre-filled application forms, chequebook stubs, debit or credit card transaction receipts, even envelopes or a letterhead showing an address. These are all potentially useful to a fraudster who wouldn't think twice about rifling through your rubbish, or 'Bin Raiding'. Most good stationers sell competitively priced domestic paper shredders.
• Check your bank / credit card statements promptly. Report any transactions you don't recognise to the card issuer, even if they are only for small amounts.
• Scrutinise your credit file (or credit report) for accuracy. Check for unauthorised activity, such as new accounts you didn't open, credit searches by companies you haven't dealt with or address links to addresses you don't recognise. You can arrange to receive your credit file regularly to monitor credit applications made in your name.
• Make sure you formally close any accounts you no longer require. Dormant accounts may be reactivated by a fraudster without your knowledge.

Giving Away Your Data

• Always be wary of those soliciting your personal information, even friendly or official-looking people who stop you in the street or call at your home. Ask yourself:
  Who wants my information - am I sure they are genuine?
  Do they really need my personal details?
• Letters, faxes or emails: If you receive letters or emails requesting personal details, such as your PIN numbers, passwords, pass codes etc., check they are genuine, and check that the company that is requesting the information is genuine. A legitimate financial institution would never request these details from their customers in this way. If you do not believe the request is genuine, where possible avoid replying; fraudsters may see your response as a sign they have made contact with a potential victim.
• Telephone canvassers - why are they calling you? Never give information to an unknown caller who can't prove their identity, even if they do claim to be from your bank. Politely offer to call them back if you have any suspicions.
• Be sure you are dealing with a genuine and legitimate company before giving them any account details, particularly if they have approached you.
• Never disclose or write down (or even store in your mobile phone) your personal identification number (PIN) or online passwords.
• Where possible, avoid disclosing your mother's maiden name or using it as a password - it may be easily discovered. Consider using a less obvious word or name instead.
• Avoid signing up for junk mail. Consider registering for the Mail Preference Service and/or the Telephone Preference Service to reduce the amount of unsolicited correspondence you receive.

Your Documents

• Keep all your important documents, such as your passport, driving licence, birth/marriage certificate, in a safe place (but not all together if possible). They are as valuable to a criminal as electrical equipment or jewellery and can be easily sold to an identity fraudster.
• Keep an eye on your bills and statements and make a note of when they should be arriving. Fraudsters have been known to take over their victims' bank accounts and change the address. If your bills or statements don't arrive, inform the organisation concerned.
• Protect your post - if you use a central or communal delivery point, collect your post as soon as possible after delivery. If items of mail regularly fail to arrive, report this to Royal Mail.
• If an important document goes astray - for example your passport or driving licence, inform the relevant bodies immediately. Report it to the Police if it is stolen.
• Try to limit the documents you carry around with you - and if possible do not leave personal documents in your vehicle.

Credit Cards

• Treat your cards as if they there were cash and sign any new cards as soon as you receive them.
• Keep a list of all your credit cards (along with account details) so you can notify card issuers quickly in the event they are lost or stolen.
• Consider making use of a card protection scheme - for a small fee you can register all your bank and credit cards with the scheme. In the event your cards are lost or stolen, they will contact the card suppliers on your behalf. Ask your bank or credit card issuer to recommend a suitable scheme.

Moving Home

• If you move home, inform all the relevant organisations of your change in address. To make sure all your credit accounts move with you, get a copy of your credit file. This ensures you identify all of your accounts and don't forget those you may not have used for a while.
• Consider using a Royal Mail Re-direct for at least a year to make sure all post is forwarded to your new address.
• Contact your local authority and enrol on the Electoral Register (also known as the Voters Roll) for your new address as soon as you can.
• Don't tempt those moving into your old address - a replacement storecard or a mail order catalogue arriving at your old address is a gift to a fraudster.

At Work

• Most employers store personal data relating to their staff:
  Double check that your records are kept in a secure location.
  Find out who has access to your details at work - they should only be accessed by other employees for legitimate reasons.

Travelling or Moving Abroad

• If you plan to be away from the UK for some time, inform your bank and other relevant organisations.
• Make sure any post sent to your UK address is dealt with securely. Consider contacting the Royal Mail about its 'Keepsafe' service.
• Treat your plastic cards, travellers cheques and passports as securely as you would cash. Always keep them in your hand luggage when travelling - suitcases and rucksacks may go out of sight.
• Make use of safety deposit boxes, if possible.
• Be wary of leaving documents in your car.

Night-owl_6

CIFAS is a system for preventing fraud. It allows member organisations to exchange details of applications for products or services which are considered to be fraudulent because the information provided by the applicant fails verification checks. Members can also exchange information about accounts and services which are being fraudulently misused, or insurance and other claims, which are considered to be fraudulent. CIFAS Members also exchange information about innocent victims of fraud to protect them from further fraud. Information is exchanged under strict rules and is referred to in a Fair Processing Notice on application/proposal/claim forms and agreements

Edinburghlass_2

http://forums.moneysavingexpert.com/showpost.html?p=3477005&postcount=9

smithja

Hi Benf90

I am not sure if they are that keen on evidence from payslips or even copies for bills or bank statements these days. If you search about you can find plently of companies willing to make you up copies of your "originals" for "novelty use only" and they are identical in every aspect only they are not the original (or contain the original data). So most banks dont trust them especially if they are lending to someone who they already perceive as being high risk. Although they still do ask for them so maybe they know 99% of us are honest.

They also wont take a company letter from your HR Dept, boss etc. stating you do work for them and how long you have been there are how much you are paid for the same reason as above and even if you do work there it is not difficulty to print one up yourself. I know people who have done it and gotten away with it!

I was thinking more contacting your employer regarding your wages when it comes to mortgages than credit cards, as there is a higher risk involved. I should have been a bit clearer on that.

James

nzseries1

Lots of great advice here, thanks everyone, I'm quite sure that the HR department at my company would never give any information away.

I figured it was bank statements also that the CC companies would ask for, I've heard of companies making fake "novelty" drivers licenses but never bank statements or anything else! Anything's possible these days though, isn't it :silenced:

johnmoney05

A friend of mine was arrested because he used fraud information to apply credit cards and loans...maybe he was just not lukcy. Not sure what the punishment was, not see him for ages now anyway.

patrick0

nzseries - I take it you moved from New Zealand? I had the same problem after moving here from NZ.

I ended up having to open a credit card my cheque account provider -- the other banks weren't interested as I didn't have a credit record.

Make sure you keep yourself on the electoral roll as this makes a big difference (you're allowed to vote as a Commonwealth citizen, even if you're not a UK citizen). Gradually things will improve, but it took quite a few years for me -- probably didn't help that I was moving flats every year or so.

I think the banks are getting better now though - the big influx of Eastern European people means they're more receptive to providing facilities for new immigrants.

nzseries1

patrick0 wrote: »

Make sure you keep yourself on the electoral roll as this makes a big difference (you're allowed to vote as a Commonwealth citizen, even if you're not a UK citizen). Gradually things will improve, but it took quite a few years for me -- probably didn't help that I was moving flats every year or so.

You're right, I did move from New Zealand. I knew how important being on the electrol roll was to get a CC but I figured that only UK residents could be on the roll and I assumed that meant there was no hope for the rest of us. I learnt that this wasn't true late last year and I guess it must have been that that changed their mind!

Like you I move flats once or twice a year. But it doesn't worry me now, I've finally got a credit card with a decent limit so I'm not too worried. I'm just waiting for the day when my credit limit plummets for no reason which seems to happen to lots of people on these forums!

MJS996

I got a call to check my earnings on an application a few years back. Once I explained I was a contracter and that was my real earnings they accepted it, but still only gave me a lower credit limit than I probably would have expected given my earnings at the time, not that it bothered me!