Why UK Consumers Need to Know Their Credit Score

LONDON, September 16, 2015 /PRNewswire/ --

Recently, a financial data security breach and an administrative processing bug have affected a large volume of customer data of two of the UK's biggest retailers.

In the case of the financial data security breach, various news reports claim that around 2.4 million customers personal and payment details have been illicitly acquired by cyber-attackers.

While in the case of the administrative processing bug affecting another major UK retailer, it is claimed that only the personal details of some customers have been passed on via email to the retailer's entire email list.

These cases serve to remind us that we ought to know what to do when it comes to keeping personal and payment details safe and what to do when our data has been acquired through cyber-attacks, i.e. knowing what online frauds and credit scores are.

If you know that you have a high credit score and you suddenly see it being affected, possibly due to online fraud, you can take the necessary steps to restore it.

Nicholas Cordingley, Digital Marketing Manager at MyCreditMonitor, explains why this is. He says: "When it comes to making financial transactions through the internet, whether you're shopping, banking or even applying for a loan, it is not possible for the retailer, bank or lender to actually see who it is that is conducting the transaction. It will only identify and process the payment data that is being inputted by whoever has it.

In such situations, affected customers could 1. Check their recent banking activity to look for anything unusual, 2. Check their credit scores to see if it has been affected due to possible fraudulent activity that may have taken place, 3. Contact their banks as soon as possible to block their credit or debit cards and 4. Change their online passwords."

At MyCreditMonitor, we regularly alert our customers - via text messaging and email - of whether their credit scores have changed - or not. Our customers are then prompted to log into their accounts and check their credit score. They can then take the necessary steps should they see that their credit scores have been affected."

For more information, please visit: http://www.MyCreditMonitor.co.uk

CONTACT DETAILS:
Sudakshina Bhattacharjee
Content Marketing Executive, MyCreditMonitor
Email: mcm@affinioninternational.com      
Tel: +44(0)1753-828-195
Mobile: +44(0)79202-60098