Taking the Steps to Prevent Identity Theft
The Federal Trade Commission estimates that over 8 million consumers become victims of identity theft each year. Though you cannot have a 100 percent guarantee you will prevent identity theft from happening to you, consumers can take specific steps to minimize their risk.
Reduction and Limitations
These days the average consumer has more than two credit cards. Though it is usually recommended a consumer does not need more than two, if you do have more than two credit cards you certainly do not need to carry them around with you on a daily basis. Always monitor your credit card statements and monthly bank statements for ANY charges you cannot explain. These can include charges that are under $1. Often identity thieves will make small charges first in order to see if consumers are paying attention to their reports before making larger purchases.
Online Shopping
Shopping online has become popular amongst consumers, but it has also become a popular way for identity thieves to steal personal information from those consumers. If you are going to do your shopping online, always use a credit card rather than a debit card. Credit card fraud is much easier for a consumer to recover from than debit cards. When an identity thief gets a hold of your debit card information they can immediately drain your bank account.
Photocopy Your Cards
Every consumer, whether they have one credit card or ten, should have photocopies of each card. In the event your purse or wallet is ever lost or stolen, you will already have a record of every credit card, their numbers and even expiration dates that were taken. In the event your wallet is lost or stolen, you can give copies of these cards to the local police department as well as notify the creditors to cancel the cards.
Social Security Numbers
Social security numbers are personal identifiers given to each consumer. When a company or individual asks for your social security number, ask them why they need it and what it is for. Often you can use other forms of identification rather than your social security number. Only use your social security number when absolutely necessary.
Receipts
Often consumers will toss out receipts or leave them behind. Whenever you are asked “Would you like your receipt?” take it, even if you do not need it. Shred your receipts at home so that you know they were disposed of properly.
Protecting Your Mail
When sending out bills or other payments, always drop them off directly at the post office, rather than leaving them in your mailbox. Have a locked mailbox at all times so that only you can access the mail after it is placed in the slot. When you know you are expecting new credit cards, newly issued debit cards, checkbooks or even particular tax documents, be sure to check your mail regularly and contact the sender immediately if they are not received.
Secure Passwords
It is a lot easier to remember your old address or your favorite number for a password, but when it comes to securing your online identity, you need to use secure passwords. What is a secure password? A secure password has a combination of lowercase and uppercase letters as well as numbers and symbols. For example: 1R!x2@vD is considered a secure password. Keep these written down in a safe place and never share them with anyone.