Taking A Look At Credit Identity Theft

To begin with, the most common form of identity theft is credit identity theft

. It is that case wherein a thief attacks a victim's financial assets. When he does, not only is the victim's finance at stake but also his reputation. Avoiding this kind of situation may be hard since anyone can be a target.

When we talk about credit identity theft, one of the easiest ways a thief can go with this crime is by stealing a victim's credit card or credit card number. The easiest way a thief can get hold of someone's credit card is by stealing the person's wallet or by simply targeting the actual credit card and his identification card without actually stealing the wallet where it may be placed. That way, the credit card theft will become unnoticeable.

Other ways a thief can get hold of a victim's credit card information is by skimming through paper works. This can be an inside job by employees or anyone who can gain access to a customer's information or his receipts after paying bills with a credit card. Once the needed information is complete, then the credit card fraud begins. Unauthorized purchases will be made until the credit limit is reached.

If the thief is still not satisfied with the purchases that he has taken, then he might opt to completely stealing the victim's identity. He may go as far as changing the person's address and applying for new accounts. When he does, then he can also start applying for loans or rent new apartments and apply for utilities such as electricity and cable. If a person is not careful or vigilant with his assets then the effects of the crime will be tremendous.

One way a person can detect early activities of identity theft is through regular monitoring of credit reports. A Credit report from each of the three national credit bureaus-Transunion, Esperian and Equifax, is provided once a year, so a consumer may receive 3 reports per year although some may think it not enough. A consumer may apply for a credit report from any credit bureau when he feels the need to with a fee of $10 per report.

Others may also apply for theft protection services which are now available in the market and online. Read more about the different protection services that will fit your choice and apply for it if you feel you need to. Again, it's better to pay few than to pay for thousands and ending up with a ruined reputation.

Identity theft is a crime that should be taken seriously. Thieves are like fishermen waiting for a fish in their bait so don't fall for those baits. Always remember to be vigilant and to guard yourself and your information.

by: Leo Chu

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