How To Prevent Identity Theft And Credit Card Fraud
According to a poll by Experian, one in 5 north Americans has reported they have experienced some form of ID theft
. If it happens to you, and your ID is stolen, you could be in for a lengthy trouble that would cost you your credit history and leave a permanent blight on your monetary records.
How Credit Card Theft Starts
Thieves start by targeting your personal information : Social security numbers, bank records, tax reports, credit card debit information and passwords, or perhaps your checkbook. Don't leave this valuable information lying around at your office, or in your car. Be aware that you are leaving a door open for anybody to obtain access to your bank account or credit card info. Query anyone who asks for your credit information, including companies ; see what their privacy policy is and get a copy of it.
Shred all documents irrespective of how insignificant they may seem to you. Additionally, don't lend your Visa card to anybody, including family members, unless you are willing to take on their debt personally. Many family debates have ended up in court with bitter feelings from one time casual Visa card or debit card lending that got out of hand. When you sign up for a Mastercard, be certain that their online application is secured, and the privacy notice is posted.
Spotting signs of I. D. theft
If you've often been missing your Visa card bill, or your mail keeps getting'lost' contact the post office immediately. If you live in a house complex, find out from your super or manager if you can change your mailbox key. A missing bill could mean that an I. D. theft has happened and the billing address has been changed.
If you are all of a sudden getting credit cards ( not just a credit card offer ) from firms that you did not apply. Call these corporations and find out if you're the account holder ; if not verbally cancel the account and chase up with a written letter.
If you're being denied credit, or your credit card terms are suddenly being changed to higher interest terms, for no apparent reason.
You're all of a sudden getting telephone calls and letters from creditors about debt consolidation offers did not make.
How to defend your Credit Information
The best protection is constant awareness of the employment of your credit info. Select your passwords punctiliously. Avoid using any easily available info,eg your mummy's surname, your birth date, the last 4 digits of your SS, or your telephone number.
If you must use this type of identifier in creating a new account, request a password change right after opening the account before it slips your thoughts. Secure your credit information at all points, even around your house--if you're having work done on your house, or if you are having a huge party, or your roommate brings home guests. Don't give out any info unless you know exactly how it'll be used and by whom.
The safest defense for Your Credit Security :
Stay vigilant. Review your Mastercard statements every month, and question any suspected purchases by contacting your credit card issuer immediately. If you suspect an unauthorized purchase, send a letter to your Visa card issuer detailing the item in question and any reference numbers. The credit card issuer is required to investigate your claim and report to you, in writing, of their findings.
You may request a free annual monitoring report from every one of the major purchaser reporting agencies : Experian, Equifax and TransUnion. A recent change to the Fair Credit Reporting Act demands that these credit reporting firms provide these reports to you at your request, each 12 months.
by: Romeo Laventino
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