Preventing Identity Theft And Credit Card Fraud: How To Protect Your Credit Information by Ed Vegliante
According to a recent poll by Experian, one in five Americans has reported they have experienced some form of identity theft. If it happens to you, and your identity is stolen, you might be in for a lengthy hassle that could cost you your credit rati
According to a recent poll by Experian, one in five Americans has reported they have experienced some form of identity theft. If it happens to you, and your identity is stolen, you might be in for a lengthy hassle that could cost you your credit rating and leave a permanent blight on your financial records.
How Credit Card Theft Starts
Spotting Signs of Identity Theft
* If youve frequently been missing your credit card bill, or your mail keeps getting lost contact the post office immediately. If you live in an apartment complex , find out from your superintendent or manager if you can change your mailbox key. A missing bill could mean that an identity theft has occurred and the billing address has been changed.
* If youre suddenly getting credit cards (not just a credit card offer) from companies that you didnt apply. Call these companies and find out if you are the account holder; if not verbally cancel the account and follow up with a written letter.
* If youre being denied credit, or your credit card terms are suddenly being changed to higher interest terms, for no obvious reason.
* Youre suddenly getting phone calls and letters from creditors about purchases you did not make.
How to Protect Your Credit Information
The best protection is constant awareness of the use of your credit information. Choose your passwords carefully. Avoid using any easily available information, such as your mothers maiden name, your birth date, the last four digits of your SS#, or your phone number. If you must use this type of identifier in opening an account, request a password change immediately after opening the account before it slips your mind. Secure your credit information at all times, even around your house--if youre having work done on your home, or if youre having a big party, or your roommate brings home guests. Dont give out any information unless you know exactly how it will be used and by whom.
The Best Defense for Your Credit Security:
Stay vigilant. Review your credit card statements every month, and question any suspected purchases by contacting your credit card issuer directly. If you suspect an unauthorized purchase, send a letter to your credit card issuer detailing the item in question and any reference numbers. The credit card issuer is required to investigate your claim and report back to you, in writing, of their findings. You can also request a free annual monitoring report from each of the major consumer reporting agencies: Experian, Equifax and TransUnion. A recent amendment to the Fair Credit Reporting Act requires that these credit reporting companies provide these reports to you at your request, every 12 months.
Its your credit. Protect it!
Copyright 2005 Ed Vegliante.
The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
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