Can checking my credit rating help prevent identity theft?
While you can't always prevent identity theft simply by checking your credit rating, your credit report could help identify the existence of a problem at the earliest stage as you could see credit applications/contracts being made in your name that you're not aware of.
Being aware of what's happening with your credit rating alerts you to problems more quickly and helps you avoid the scenario where fixable issues become bigger problems.
Identity theft happens more often than you might think, and it can impact your credit score. According to the UK's leading fraud prevention service – Cifas' National Fraud Database – there were 175,000 cases of identity theft recorded in 2017. And in almost 4 out of 5 cases the victim's genuine address had been used.
With modern technology at their fingertips, identity thieves no longer need to go rifling through your post. Cifas found that 84% of identity frauds occurred through online applications. In many cases, victims of identity theft may not necessarily be aware of the crime until they're charged by the credit provider or they investigate a bad credit report.