Bad credit can be from your name...

[BSClay]

Having a familiar name may create problems with your credit rating. With all the John and Jane Smiths in the world, a simple mix-up can get an honest John Smith mistaken for a fiscally irresponsible one. Take these precautions if you have a name that’s common:

• Always include your full first name and middle initial on credit applications. The more complete your name, the better your chances that it won’t get mixed up with another person with a similar name. Be sure to use the Jr. or Sr. designation if you have one.

• Be consistent. All your credit cards should have the same exact name. If one has John Davis, another has John J. Davis, and yet another Jack Davis, mistakes can crop up more easily.

• Write clearly on all documents. Be sure your name is completely legible to anyone who might read an application. If you don’t, your “J” initial can appear as an “I” to an application processor.

• Check your credit report regularly. You never know if your Social Security card number got copied incorrectly some¬where along the line, or if the credit report agencies have mistakenly added information from someone of a similar name.

• Correct errors right away. And be persistent. Contact creditors directly. The last thing you want to do is argue with a collection agency over a bill that isn’t yours.

[centsgirl]

You are right, but I do not understand this when they are suppose to go by your ss number. My dad had the same name as someone else that lived on the same street that caused a lot of problems for my dad.

[dimetime]

Sad to say but even SS# can get mixed or messed up. If someone has a SS# which is close these mistakes can happen.

I know on an old bank account of mine I was charged $300.00 for shopping online. I never shop online. It was still new back then and I didn't trust it.

Here the person's name, SS# and Card Number were all quite close to mine and the bank charged my account instead of the proper one.

Thankfully I kept a close eye on my account and caught this error quickly. It could have ended up being a lot worse than it was.

It took a bit of time to get it straightened out and I wasn't able to use the account for a while, but it did get straightened out and my account numbers were changed so that this wouldn't happen again.

This is just one example of something that can happen because banks are not as careful as they should be with our money.