How to Protect Your Credit Report
Let’s not beat around the bush: identity theft is scary, and if you aren’t worried about it, you are nave. Even if you’ve taken precautions, you should still be concerned. To put as bluntly as possible, identity theft can ruin you, your finances, your career and your marriage. Here is a list of things you should do at a minimum to help protect your identity.
Probably the first thing to do is make sure all of your household phone numbers are in the Do Not Call Registry, which means that telemarketers cannot call you to try and sell you products over the phone. While there are many legitimate telemarketing companies out there, the fact that someone can buy your phone number and try and call you out of the blue to get your credit card should raise a red flag. So, if you put your numbers in the registry and you get a telemarketing call, you should immediately be suspicious. You can add the numbers at www.donotcall.gov or call 1-888-382-1222.
Another key thing to keep your credit safe is to review your credit report at least once a year. However, don’t fall for a pitch where you have to sign up for a recurring service just to see your credit report. The reality is that you can get a copy of your credit report once a year without paying anything. There are three major credit bureaus you need to keep up with. Visit www.AnnualCreditReport.com to get more information.
Charity scams are a common problem, so before giving money to any charity, make sure the charity is legit by contacting the Better Business Bureau Wise Giving Alliance at www.give.org.
Probably the most effective and misunderstood method of identity theft is ‘phishing’, which is the process of trying to send messages to unsuspecting people in an attempt to trick that person into providing sensitive information. The most common is sending out an email that says your account has been compromised, and that you need to click a link and enter your account details. Then any person who clicks the link is taken to a site that looks very official, and when they enter their information, it’s stolen. If you are at all concerned about your account, contact the company in question directly. Do not respond to a random email. The most recent phishing attacks use text messages to your phone, so you need to be aware of the different methods for prevention.
You can prevent someone stealing your information from old bills and mail by using a cross cut shredder. The most important documents to shred are anything with a name, account number, address or phone number.
Look for Opt-Out option s wherever you can, which means to avoid getting junk mail as well as companies that you have accounts with being allowed to share your information. When you get a policy update letter from any company or service you use, review it.
Check your credit card and phone bills each month carefully. Of course it’s a major concern if you see charges on a credit card that you didn’t make, but many people don’t really look over the transactions listed on their statement each month.
Review your bank account daily if possible. It should be very quick with an online account, and you can see any problems often before they even clear your account. I recently had an issue with someone trying to post the same $750 charge to one of my bank accounts for a week. I alerted the bank and the charge never cleared, but it did tie up my funds, a fact that was frustrating.
There is a lot more information that you should educate yourself on in order to really protect yourself. Do NOT take the lazy way out and think it’s too hard. You WILL make yourself an easy target.
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