Identity theft occurs when someone acquires your personal information such as credit card data or social security number. The Federal Trade Commission (FTC) estimates that 9 million Americans are victims of identity theft yearly. It can seriously impact your credit and take months or even years to resolve fully.
There are several key steps you can take immediately to guard your personal information. Paid services such as LifeLock, which can cost up to $150 annually, are available. However, there are numerous free measures you can take now to protect yourself.
-Pay for online purchases with a credit card, not a debit card. Credit cards offer greater protection that using a debit card.
-Monitor your banking and credit card statements frequently. Look for unusual charges made out of state that you could not have done.
-Monitor your credit report. By law, you’re entitled to one free credit report yearly from one of the three main companies: Experian, TransUnion, and Equifax. You can get your free report at annualcreditreport.com.
-Shred sensitive personal data and destroy all credit card offers that show up in the mail. Offers could be used by thieves to open cards in your name.
If you think you may be a victim of identity theft, act quickly. Notify your bank of unusual activity and be prepared to dispute any false charges. Depending on the situation, you may need to contact the FTC or your local police department to file a fraud report. The FTC has resources to help you, in the event of identity theft.
Protect yourself as much as possible, online and offline. Be cautious of sharing personal information online, including on social media. Your birthdate and social security number can be a gateway for would be thieves. Be vigilant with your bank and credit card statement. Most banks are mobile so that you can check your accounts from your phone.
You would never leave your wallet unattended-guard your personal information the same way.
