HELP! possible identity fraud!!! EDIT: where can I get truly free credit report??

[z0mb13]

Ok I just got a letter from american express, saying that the credit line of one of my card from them has been reduced, they claim the cause was the following reasons: (these reasons are actually from equifax)
1 balances on your accounts are too high
2 too many inquiries in the last 12 months
3 proportion of your balances to your credit limits is too high on bank revolving or other revolving accounts
4 length of time your accounts have been established is too short

However:
1. I NEVER carry balance on my cc
2. what do they mean by inquiries??? the only credit check thats been done on me I think is when I applied to get a lease for an apartment about a week ago
3. I dont understand what this means?? I am currently not employed (will attend a MBA program soon) maybe this affects me in anyway??? Actually I've only been in the states for 5 years, and I never worked full time, however my credit score is very good, higher than 700
4. I've had this cc for at least 2 years, and I never applied to any ccs recently (in the past year)

Is it possible that I am a victim of identity fraud?? the credit company used by amex is equifax, is it advisable if I pay $10 to get my credit report?? LIke I said, I just applied for a apartment lease, and they ran my credit, which turns out fine (otherwise I wont get the apartment). And also, I had a credit check done about 5 months ago (forgot which credit bureau) and my credit score turned out ok too at the time.

Maybe amex is simply revaluing their credit lines?? or is it a mistake on equifax??

HELP??

EDIT: where can I get truly free credit report?? (none of those free 1 month trial, then have to cancel) a REALLY free credit report.

 

[z0mb13]

no one can help me??

ok maybe cliff notes:

credit line reduced on my amex cc, possible identity fraud??

 

[Murphy Durphy]

Why not call? Couldn't hurt. Anything as serious as this doesn't deserved to be looked over. Not unless you want someone to charge your CC up . *ditches z0mb13's credit card in the bushes* *shifty eyes* .

 

[Eli]

Originally posted by: HajikuFlip
Why not call? Couldn't hurt. Anything as serious as this doesn't deserved to be looked over. Not unless you want someone to charge your CC up . *ditches z0mb13's credit card in the bushes* *shifty eyes* .

Welcome. I think you'll do well here.

 

[Mill]

Well equifax's score is different from the other bureaus. I know that sometimes they have errors or weird accounts show up. When I was getting my mortgage, my Equifax was showing over a 700 and my Trans Union was in the fives. Turns out an old bank account showed up as a charge off. I called the bank and had it taken care of.

I would get a 3 in 1 report from My Fico. It should tell you your scores and account information for all three bureaus. I really doubt it was identity theft, but anything is possible. Do you have an auto loan, mortgage, other CC, or retail cards?

 

if you believe so, check your credit reports and see when the inquiries were started. Also, have you lost anything of importance lately? Thrown anything out with your SS or drivers license number on it? Something like that can also contribute to ID theft.

I would suggest reporting this to the police if you believe it to be true, then go to the Social Security office and begin the process of getting a new SS number. You are probably in for a long and hard road if your ID was really stolen.

 

[z0mb13]

Originally posted by: Millennium
Well equifax's score is different from the other bureaus. I know that sometimes they have errors or weird accounts show up. When I was getting my mortgage, my Equifax was showing over a 700 and my Trans Union was in the fives. Turns out an old bank account showed up as a charge off. I called the bank and had it taken care of.

I would get a 3 in 1 report from My Fico. It should tell you your scores and account information for all three bureaus. I really doubt it was identity theft, but anything is possible. Do you have an auto loan, mortgage, other CC, or retail cards?

hmm is there anywhere that I can get my credit score for free??? no I dont have auto loan or mortgage. I do have other CCs (disc, mc, visa). I have one macy retail card... thats bout it...

 

[z0mb13]

or maybe a better way is to get a report from equifax?? (I think I am entitled for a free report from them??)

 

[z0mb13]

bump for edit

 

[RossMAN]

You have 2 options, I'll list the best option first

1) This is a serious issue and you want answers NOW, don't be a cheap ass when it comes to possible identity theft. The quicker you take action, the better.

So order your credit report with credit score for $12.95 direct from EquiFax.com

Assuming you can verify your identity (you will be asked a few questions) you can view your credit report AND credit score online instantly, without waiting 1 month.

2) You can get a FREE credit report with your Amex decline letter but you have to request it via snail mail and it could take up to 4-6 weeks.

 

[crobusa]

(these reasons are actually from equifax)
1 balances on your accounts are too high
You are new to credit.. or you have more than debt then has been reported in the past.

2 too many inquiries in the last 12 months
You have applied for credit recenlty, more then 3 times in a couple mounts. Banks do inquiries to "check up" on there customers and increase credit lines, but usually they don't count.. Hook up a phone, electric or gas recently? Got insured? Better yet, read who's looked on your report usually last page.

3 proportion of your balances to your credit limits is too high on bank revolving or other revolving accounts
Your near your credit card limits WHEN the account was reported to the bureau .. mid month before your full payment was recieved?

4 length of time your accounts have been established is too short
Your new to credit. They aren't sure who you are, thus the red flags. I hear that credit bureaus overseas don't share info, so if it's an international bank issuing the card, it's on your european credit report. (assuming)

These are symptoms, and have nothing to do w/ identity theft SO LONG AS the inquiries/listed accounts are from places you know.

As for the free credit report, don't bother, pay the $8. If you plan to appeal your file, you'll need a report #, that the freebies won't give. As was said before, if you feel your a victim of id theft, denied credit, or looking for a job, your entitled to a free report (usually w/o) score.

I helped an old lady who was a victim of id. theft. It was SUCH as hassle contacting banks and this was before the agencies got their act together to lower the burdens of proof.

Good Luck

 

[z0mb13]

thanks for the suggestion guys!

 

[z0mb13]

ok it turns out that my credit is fine... no identity theft

phew...

its just amex being extra cautious giving credit