Protect your Credit

Ten Ways You Can
Protect Your Credit

1) Sign It
Ensure that you sign the back of your new credit card
once you receive it.

2) PIN
Never write down your PIN number in a purse or wallet —
memorize it or stash it in a safety deposit box or other safe
area. Make sure your PIN number isn’t something obvious like a
date of birth, address, or phone number.

3) Return It
Make sure merchants return your credit card after a
purchase. Don’t be in a hurry or let other distractions keep you
from getting your card back immediately.

4) Watch It
Never leave your credit cards unattended or in visible
sight of others. Remember, they are the same as cash.

5) Be Wary
Never give your account number over the phone unless
you’ve validated the company or individual you’re speaking with.

6) Check Purchases
Always verify receipts from purchases and make sure the
right amount has been charged. Take all copies of receipts and
carbons with you, especially ATM transactions.

7) Trash It
Dispose of receipts and old credit card statements
privately not publicly. Use a personal shredder or other device to
ensure your name and account number are unreadable.

8) Report It
Contact your creditors immediately if your credit cards
have been stolen or lost.

9) Record It
Make a list of your credit card account numbers and
telephone numbers of creditors in case your cards are stolen or
lost. Keep the list in a safe place.

10) Verify
Check your credit statement right away when it arrives.
Verify the amounts of purchases with sales receipts you’ve saved
for the month. Report any discrepancies to your creditors
immediately.

If you believe yourself to be a
victim of credit card fraud, get a copy of your credit report.
Call the fraud division of all three credit bureaus and have them
put a fraud alert on your file:

Equifax: 1-800-525-6285
Experian: 1-888-397-3742
Trans Union: 1-800-680-7289

The thief who has used your credit
card may try to get your credit report in order to use other
accounts of yours or to open new accounts in your name. A fraud
alert will prevent new credit accounts from being opened without
your express permission.

If the fraud was perpetrated as part of a business scam, contact
the National Fraud Information Center: 1-800-876-7060

Get
your credit report online right now – click here

Identity Theft

Can Consumers Fight Back Against Credit Fraud?


In this age of information, credit fraud is not a difficult crime to perpetrate. The idea that a thief could gain access to your account information or personal data is not as implausible as you might think–social security number misuse has increased over the last two years, resulting in a variety of credit-related crimes.

Fortunately, you can fight back against credit fraud by learning how credit fraud and identity theft occur, and by actively monitoring your credit report for unauthorized account use on a regular basis. Your credit report will list any new activity on accounts you haven’t been using, as well as new accounts that you did not open.

One of the best ways to keep track of new information that is added to your credit report is a Credit Check Monitoring Service, like LifeLock which provides Online Monthly Monitoring Alerts to inform you of new derogatory information, recent inquiries into your credit, and several indicators of possible credit fraud.

To have credit report information at your fingertips is the best way to shut an identity thief down–you can begin the process of notifying your creditors of the fraud, changing your passwords, and closing down fraudulent accounts before they wind up in the hands of collectors and compromise your good credit.

How Credit Fraud and Identity Theft Occur

Specific personal data, such as your Social Security number, home address and mother’s maiden name, can be all a thief needs to obtain a fraudulent driver’s license, take over existing bank or credit accounts, divert card statements to a different address, or even apply for new credit card accounts under your name. Thieves can obtain this information in variety of ways, including fishing through trash for account statements, lifting cards from lost or stolen purses, wallets and briefcases, or through telephone or Internet scams.

How to Prevent Credit Fraud and Identity Theft

Customers may be in a position to prevent potential identity theft by closely guarding their personal data. For example, never give out your Social Security number over the phone unless you know the company you are dealing with and have initiated the call.

Similarly, if your mother’s maiden name is not likely to be a secure password, consider changing it to something a little more difficult for a thief to obtain. Also, carry only the cards you are actually going to use, and leave official documents like Social Security cards, passports and birth certificates at home or in a safety deposit box.

Account Takeover Fraud

Credit card account statements contain a lot of sensitive information that you don’t want thieves to get a hold of, and even store receipts will frequently have your credit card number printed on them. Sometimes an account number is all a thief needs to make charges and obtain cash advances. It’s a good idea to shred all financial documents before discarding them.

A thief in possession of sensitive information about you may also be able to go one step further, and commit account takeover fraud, simply by calling your creditor, reading off your account number, a partial Social Security number and your mother’s maiden name, and asking them to change the mailing address on the account. For this reason, if you don’t receive a credit card statement on time, you should call your creditor immediately to verify that the address has not been changed.

Checking your credit report may also reveal activity on an account you don’t
use – get a free copy of your credit report to see your currently open accounts, and stay on top of the situation with the CreditCheck Monitoring Service.

Pre-Approved Credit Offers

Another source of potential credit fraud is pre-approved credit offers. A thief who intercepts one may fill out the application and change the address to obtain a credit card in your name for which you will never receive a statement. (To combat this, some creditors will not issue a card to a new address on a pre-approved offer certificate, but this policy isn’t universal.) This makes checking your credit report especially important, because it will show you if there are accounts being reported in your name of which you are not aware.

The thief may even make the minimum payments for a while, until such time as the card is maxed out. Then the account would eventually be turned over for
collections – in your name, and listed on your credit report.

The CreditCheck Monitoring Service Can Help

In many cases, the only way you’ll catch credit fraud early is by obtaining a copy of your credit report. However, most consumers may not have time to order a copy of their credit report on a month-by-month basis, and read through all the information looking for the items that may indicate possible credit fraud.

That’s why the Credit Check Monitoring Service
is ideal for consumers who want to keep current on their credit information. At roughly half the cost of ordering your credit report every month, the CreditCheck Monitoring Service provides Online Monthly Monitoring Alerts that show you only recent changes for easy reference. In addition, you can obtain unlimited free copies of your credit report at any time during your paid membership!