5 Tips for Protecting Your Identity
Every year millions of Americans fall victim to identity theft. Whats more troubling is that it often goes unnoticed by the victim for up to twelve months. By that time the perpetrators are long gone and most of the crimes end up going unsolved. For the consumer, getting back on track requires hours of work to clear their names. Each year the costs of identity theft for businesses and individuals total in the billions and these totals are only rising.
How can you prevent yourself from becoming a victim? Below are five useful tips to help you avoid becoming an identity thieves next target.
1. Develop an Emergency Kit and Strategy
Do you know who to contact in case of an identity emergency? Creating a kit that contains your account numbers, expiration dates, issuing company names, and emergency contact numbers for each credit card you own will save you time, money and frustration when it matters most. In addition, make copies of your driver’s license, social security card, birth certificate and passport and store them in a locked box, file cabinet, or safe deposit box. The safe deposit box is the most ideal because it gives you off-site protection in case of a catastrophe such as fire, earthquake, etc.
2. Identity Protection Services Will Save You Trouble
In the event of identity theft it can literally take you hundreds of hours and lots of money to clear your name or recover lost assets. Fortunately, many of the involved hassles can be avoided by subscribing to an identity protection service. For a monthly fee these firms can successfully protect your identity and keep you informed of any changes in your credit reporting. While subscribed, they also offer guarantees in case of an identity breach by providing liability protection and professional services to help you recover. There are many gray areas in our laws regarding liabilities in the case of an identity theft. Investing the time and money to clear your good name can be a daunting task and many times unsuccessful when doing it on your own. In addition to protection, these services provide another important benefit, peace of mind.
3. Reconsider or Forget About Check Writing
Each check we write contains just way too much personal information. Many experts advise against writing checks because they provide your address, bank account number, signature and license number to complete strangers. It is recommend that you automate your bill payments to help avoid any potential for criminals to take advantage of.
4.Keep Thieves Out Of Your Mailbox
Our very own mailboxes have become pay dirt for identity thieves. Bank statements, bills, and all those pre-approved credit card offers that arrive daily, keep your mailbox loaded with personal data that identity thieves could use to apply for new credit cards in your name. Unless you diligently monitor your credit reports, you may be unaware of any problems until months later. One way to avoid this is to secure your mailbox under lock and key. For some, this may be impractical. Other solutions for this are to have a rented mailbox, or your can thwart the “dumpster divers” by using a shredder to destroy any personal documents before discarding.
5. Get Virtual - Virtual Credit Card Numbers for Online Buys
For online shoppers many credit card companies are now offering virtual credit card numbers. The numbers are generated randomly, used once, then thrown away. The virtual credit card numbers are linked directly to your real account so the purchases are tracked as normal. These services are easy to use – and best of all they’re FREE!. The only requirement is that your register with companies who offer the virtual card, such as MBNA, Discover Card, or Citigroup.
These tips provided here may seem like a lot unnecessary work. However if you’re ever to become a victim of identity theft you’ll quickly realize that the effort was well worth it. In the case of identity theft, it is by far better to be safe, than sorry.
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