One thing you should know by now about credit: your past always comes back to haunt you. This is especially true for old addresses. In the best case scenario, an old address on your credit report is found in your “Previous Addresses” section and is simply on file for the record. In the worst case scenario, an unfamiliar address or an old address that still shows activity is indicative of identity theft. Read on to learn when an address on your credit report is a red flag and how to take care of it.

No Flag – Previous Addresses with accurate reporting dates.

Credit reporting agencies keep a record of your previous addresses on file for identification purposes. When you request your credit report, they will ask you to enter your current addresses as well as any addresses at which you have lived in the past two years. Depending on the bureau, your previous addresses will appear on your report as well with a “Date Reported” field. For example, on your TransUnion report, you’ll see a “Current Address” column and a “Previous Addresses” column. Verify two things when reviewing this information:

• Current address is accurate. If it is not, draft a dispute letter (see below).
• “Date Reported” for each previous address comports with the time you actually lived there. If not, investigate (see below) and draft a dispute letter.

If these two items check out, there is no need to worry. Everything is copasetic.

Yellow Flag – Current address is inaccurate, or previous address has recent reporting dates.

If you’ve recently moved, an inaccurate current address is merely indicative of your records being out of sync with the crediting reporting agencies. Once you update your contact information with your lenders (credit cards, student loans, auto loans), the credit reporting agencies should catch up once your new address gets reported. If it doesn’t, draft a quick dispute letter informing them of your new address.

If a previous address shows a “Date Reported” that postdates your actual residence, something may be amiss. The first step is to investigate. Note the “Date Reported” and take a look at your account information and activity on your credit report. On all of your accounts, there should be a “Date Updated” or “Last Reported” field. Look for a date that closely matches the “Date Reported” for the previous address. Note that it may be off by a month or so. You will likely find one of the following:

• A utilities company still has you on file, possibly due to missing your last payment or failure to properly switch over your utilities. Call the provider.
• A lender or credit card company still has your old address on file. Update your contact information with that particular lender.
• The new tenant at your old apartment has stolen your identity. Take immediate action (see below).

Red Flag – Newly opened accounts at old addresses, unfamiliar addresses on credit report

Activity at an old address or unfamiliar address, such as a delinquent payment or new accounts being opened, is an immediate red flag. There are a couple scenarios that can result in this information appearing on your credit report, all of which require direct action:

• Your credit card company has sent you a new card to your old address and it was intercepted by the new tenant.
• An ex-spouse or roommate is using your information to open an account or request a credit report.
• Someone has stolen your identity and is opening accounts under your name.

The first scenario is all too common and is almost always due to failing to update your contact information with a credit card issuer. College students are particularly prone to forgetting about cards and are equally as susceptible to fraud. Promotions on campus such as t-shirt or food giveaways in exchange for filling out a credit card application can result in credit cards being sent to old dormitory or apartment addresses years later. In one case, a student signed up for a card just before graduating and moving out of her parents house, and a new, ready-to-be activated card showed up four years later. She didn’t even remember using the card once. Luckily, it was intercepted by her mother and not a disgruntled roommate or ex-boyfriend. To avoid such situations down the road, remember to update every one of your lenders whenever you move or, better yet, consider closing out all inactive accounts.

Take Action – Disputing inaccurate information and reporting fraud

If your credit report shows inaccurate information or you have become a victim of identity theft, it’s time to take action. For old addresses, a simple letter to the credit reporting agency and your credit card issuer should do the trick. In most cases, simply providing a list of addresses and stating in writing that they are “invalid” is sufficient. Other times you may need to provide supporting documentation, such as a utilities bill or government issued identification with your new address. For a sample letter and guide to disputing such information, see the FTC’s guide on How to Dispute Credit Report Errors.

Reporting fraud is a bit more of an intensive process. You should do each of the following:

• Place a “Fraud Alert” on your credit report with TransUnion, Experian and Equifax.
• File a police report.
• Itemize and close each compromised account.
• Fill out the FTC’s ID Theft Affidavit.
• Keep a paper trail for all your efforts (send letters by certified mail, request return receipts and keep a written record of phone calls placed).

For more information on identity theft, check out our own guide to The Aftermath from our three part series on Identity Theft.

As you can see, keeping tabs on how credit card issuers and credit reporting agencies keep tabs on your addresses can save you from a lot of legwork and paperwork down the road. Pay close attention to all the items on your credit report and take immediate action on any suspicious or outdated  information.

You can obtain a free credit report and credit score through Transunion. Click here for more info.

Photo by gailf548

Related posts:

1. What’s on your Credit Report?
2. Getting Your (Actually) Free Credit Report from SmartCredit.com
3. Identity Theft Part II: Detection
4. Turn over a New Leaf: How to Fix Your Credit!
5. A Step-By-Step Guide to Getting Your (Actually) Free Credit Report without Accidentally Signing Up For Extras: Part Two – Experian