What To Do In Case Of Credit Card Theft

Most of us now have credit cards. These cards are incredibly useful tools to indulge in luxury items, pay for holidays or anything else, while being able to defer the payments for those items for a short period of time. Most people have a certain credit limit on their card, which means their spending is also controlled. While incredibly useful, they are also dangerous and not just in terms of overspending and ending up in unmanageable debt, but also in terms of credit fraud.

Do you know what you should do in case of theft of credit card? And do you know what the consequences of this theft could be?

What May Happen If Your Credit Card Is Stolen

If your credit card has been stolen, the immediate danger is that it could get maxed out. Because so many stores now offer no contact payments, people don’t even need to know your PIN anymore in order to make payments. Similarly, they can order all sorts of things online, using your credit card. While this is an inconvenience, it is one that you can stop the moment you notice that your credit card is lost or stolen, which is hopefully before any real damage is done. Your credit card company has safeguards in place too, such as notifying you when there is unusual credit card activity.

A bigger issue, however, is identity theft. Once you have been the victim of theft of credit card, your financial identity is at risk. The thief is most likely to have sold your card on the black market to the highest bidder, who will use your information to apply for a range of other financial products for which they will never pay.

If you have signed up for a service for protection and your card gets stolen, you will be provided with advice on what you should do next. Furthermore, they will also provide you with hints and tips on how to minimize the chances of your card getting stolen in the first place. They also provide credit monitoring services that alert you to certain changes in your credit files that could indicate identity theft.

What Exactly Is Identity Theft?

The crime of theft of identity is one in which someone takes a vital piece of personal information from you. This could be your driver’s license number or your social security number, for instance. They then use this in order to pretend to be you. Through identity theft, impostors can obtain services, merchandise and credit in your name, or they can obtain false credentials. Besides often running up debt in your name, they may also pretend to be you when identified by the police, leave outstanding arrest warrants in your name, and even create a criminal record in your name.

Two Main Categories

There are two basic types of identity theft, which are account takeover and true name. In the latter, someone uses your name in order to create new accounts. For instance, they may apply for a credit card, start a cellphone contract or even open a bank account so that they can get new checks. On the other hand, with account takeover, an impostor will use your personal information in order to take whatever is in your existing accounts. Usually, they will change the account’s mailing address and then run up huge bills. You will probably not be aware of this until it is much too late. Because so much is now done online, it is very easy to make transactions without actually having to identify yourself.

It is also possible for an identity thief to hack into a huge database and take personal information from there. However, in most cases, they use more old fashioned methods, including taking your old mail out of your trash, which is a practice known as ‘dumpster diving’. Shoulder surfing, whereby someone stands next to you in a queue as you fill in your personal information, or your PIN number, is another popular method.

Protecting Yourself

Protecting yourself from identity fraud is difficult. In fact, it should be pointed out that it is impossible to prevent identity theft from occurring. It is, in the main, about being proactive. You must be aware of the fact that dumpster diving and shoulder surfers are out there and be mindful of them. You may also want to sign up for protection services such as those offered at http://www.identityguard.com/. These services help to identity theft of identity if it has occurred so that you can take steps to stop further damage, for instance, by closing those accounts being used by the criminals to steal from you.

Selecting The Ideal Identity Theft Protection

Today, it’s difficult to avoid the fact that identity theft and the threat of fraud can lurk around in just about every corner. Whether you’re playing games on your smartphone, browsing the local stores in your area, or simply answering a phone call, there are almost countless ways of criminals getting access to your personal data, and using the information that they gain and cause damage to your finances and reputation.

Unfortunately, one of the biggest issues that consumers face today is that they don’t know how to protect from identity theft, or are laboring under the illusion that only gullible people will fall victim to scam artists.

The truth is that identity theft is a lot more common than many people might think, and no matter how cautious you think you are when it comes to looking after your information, there is no guarantee that you will never be attacked by these criminals.

Protecting Yourself from ID Theft

One of the best solutions available when it comes to keeping yourself protected against the threat of identity fraud is credit monitoring. However, you may find that you struggle slightly when choosing an identity theft protection service. Perhaps the best way to get started is to look for different reviews and testimonials regarding any company that you may be considering. This should give you a better insight into what you can expect from the said protection services, and may also prepare you for what you will need to do to make the most out of your credit monitoring solution.

Credit monitoring services work by giving you access to your credit report info on a regular basis so that you can carefully watch for any updates that you deem to be suspicious or strange. Many of these companies also provide you with an alert when certain changes are detected in the data. This will allow you to act as early as possible to put a stop to the criminals’ activities against you.

Be Cautious

Remember that credit and identity monitoring are great ways to look after your ID and your finances, but you also need to be careful in your daily life. This means covering your PIN at ATMs and being sure to shred any sensitive documents before you dispose of them whenever possible.

Why Should You Use An Identity Monitor Service?

If you haven’t already learned about the value of a good credit score, then there’s no time like the present to enhance your understanding and start taking your finances more seriously. If you want to establish a good financial future, then you’re going to need a good credit rating, as without one you’ll struggle to get your hands on the loans you need to finance important purchases in your future – from getting a new car, to securing a mortgage.

As consumers around the world begin to focus on new ways of enhancing their credit scores and take steps towards better financial health, it’s more important than ever to start using the services of an identity monitoring company. The truth is that even if you are cautious with your money in every other aspect of your life, if you don’t have a way to detect identity theft, then someone else could be using your finances without your knowledge. Identity fraud is a serious problem in today’s society, so you must know how to protect yourself.

Using Services for Monitoring Identity

It’s difficult to overstate the value of an identity monitor service, as these solutions allow you to keep a close eye on your credit information reports, so that you can make the most of your future. By watching what happens within your credit data on a more frequent basis, you have a way of being warned as early as possible if criminals have started using your identity.

In fact, some service companies that monitor your identity and credit info will even send you alerts to let you know that you should check your accounts when certain changes have been detected in your information. In this manner, you have a chance to avoid the consequences from by these thieves.

Protecting Your Future

Identity monitoring services can be your first line of defense in protecting yourself and your credit rating from the impact of malicious individuals. While it’s still important to act carefully and cover your PIN number when making purchases, it’s vital to know that there is a service out there dedicated to reducing the impact that identity and credit fraud may have on your life.

Identity Theft Protection Companies Alert You to Potential Danger

You know your identity – your looks, your hobbies, your profession – you may not think too much about protecting it from theft. But the truth is that there are many dishonest people out there who would love to steal your identity.  Their theft has nothing to do with copying your hairstyle though, it is about stealing your money, your reputation, and your ability to borrow.  You make sure that your possessions are secure, but you also need to ensure that your identity is, and identity theft protection companies can help.

There is much that you can do on your own to help protect your identity.  First, you can be careful with your personal information and not give your social security number out unless absolutely necessary.  When someone asks for your social security number, ask why they need it and what it will be used for.  If you are not convinced, insist that they accept another number.   Shred all documents and papers before your throw them away.  Also, be careful here you use your credit and debit cards.  Readers such as ATMs and gas pumps can be compromised using devices called skimmers to store your card information.

Regardless of how careful you are with your information, you will have to give it away at some point.  Most likely to a doctor’s office, an insurance company, or your employer.  Look into how the information is stored.  If your boss keeps everyone’s personal information in an unlocked file cabinet, maybe suggest a more secure alternative.

As for the big companies claiming to use state-of-art security on all of the electronic data that they have stored, mass data breaches have shown us that even these cannot be fully trusted.  This is why fraud protection companies are essential.  While fraud protection companies cannot stop all identity theft from happening, they can alert you to certain types of activity and help you to take action to minimize damage. Fraud protection companies work by monitoring your credit report for these changes. The longer the theft goes one, the more difficult is it to dispute the accounts and get your credit reports cleaned up; using fraud protection companies allows you to take action immediately.

The Different Types of Identity Theft

In order to better protect yourself from becoming a victim of identity theft, it’s imperative that you know what you need to be aware of in order to keep yourself and your information just a little safer. Identity theft is a serious crime, and it can impact people from all walks of life and from all areas – the thieves are simply looking for the easiest way to get something with relatively little effort. To keep yourself prepared, there are different options like credit and identity monitors that you may choose to use – but first, you’ll need to know what the two main types of identity theft are.

Credit theft and financial identity theft are similar because thieves taking this route are after both money and using your information to establish new credit. This information can be compromised and used to make purchases, open new accounts and even simply make withdrawals from existing bank accounts. This type of theft is especially damaging because it is easy for thieves to take large amounts in very little time – which can result in disaster for the victims. This type of identity theft is also damaging because there is a directly resulting outcome: the victims are without money, available credit and a safety net until the banks or other institutions are able to reverse the charges. This type of crime can impact a credit rating and the ability to open new cards or make large purchases like vehicles or homes, and can come as a total shock, especially to those that have very little in the first place.

Another of the common identity theft types involves the misuse of personal details like names, addresses, social security numbers and public records in order to misrepresent oneself as someone else. This is useful to people with felony records, non-citizens and those looking to avoid their own past when applying for things like jobs, marriage licenses and places to live. These details can be extremely difficult to gain access to, but if this happens, recovering from the aftermath can take months or even years. Of the two identity theft types, this is the one that can be considered more “personal”, because someone using your name or information is essentially passing themselves off as you – and unless you know about it, there isn’t much that can be done.

Who Writes Identity Theft Reviews?

In today’s digital age, it is entirely possible to formulate an opinion of something without ever actually owning or using it. Thanks to the Internet, many people are able to live vicariously through others, using consumer reports, facts, figures and reviews in order to assess the abilities of products and services before they are even owned or used commercially. This method is useful for many things, but it is especially useful for things like services and products that are designed to help people overcome obstacles like identity theft and credit fraud.

As with other products and services, there are many different sites that offer reviews identity theft related, but each one offers something a little different. In order to get the best possible information, you should take many different things into account before making a final decision. The reviews are meant to help people, not make things even harder to understand – people want to know what they will be purchasing and using before they spend a cent.

Specific business websites will often feature a section that shows reviews from current and previous customers. These reviews more often than not will be positive, as the companies that provide identity theft protection services won’t want to turn away potential customers. These reviews can be useful in showing curious visitors what the benefits of the service are, the types of customers that have used them in the past, and whether or not they were able to alert customers to potential cases of identity theft.

Another place that identity theft reviews can be found is impartial websites and blogs, where people are free to express their opinions whether they are positive or negative. These reviews may  include detailed responses about what the services do, what they cannot do, and how useful they were. Unfortunately, this type of service cannot prevent identity theft – it simply alerts users to the fact that it could be happening, and provides them with the means of checking into it further. A site that includes reviews of identity theft protection services may also include other similar items, giving credibility to the statements made.

Your Guide on How to Protect Your Credit

Credit is essential to obtaining many of the things that are required to live as an adult in today’s world.  You can’t get a mortgage, car loan, student loan, or other loan without it.  It also affects if you can get insurance, an apartment, a job, and other things.  You need to know how to protect your credit if you want to continue to grow financially.

Being in debt may sound like a bad thing, but when used intelligently it can be very useful in building wealth.  Good debt is debt that in the long-term creates value.  It includes student loans, a business loan, or a mortgage.  Protect your credit by paying attention to the terms of these loans. Of course one of the most important steps to protect your credit is to pay these bills on time, every month.  Don’t just make the minimum payment, and set up payment reminders so you never forget.  Missing payments is detrimental to your credit score.

You should also protect your credit by using a credit monitoring service.  These monitor your credit report and alert you to certain changes such as new accounts, inquires, and changes to your basic information.  You can be as careful as you like with your money and your debt, but if an identity thief gets your personal information and opens up credit cards and other accounts, that could be devastating to your credit.  If you do not monitor your credit report, you may not even know that you have been a victim until the collection calls start coming.  By that point, they may have racked up massive amounts of debts and it can take a very long time to get your credit report cleaned up.

Fraud Protection Services Can Alert You to Potential Trouble

Accurate statistics about identity theft are difficult to come by because it is underreported and often people don’t know that they have been victims.  One thing is certain though, it has become mainstream and anyone can be a victim.  Fraud protection services can help keep you from being the next victim.

A fraud protection service works by promptly alerting you if they detect certain changes, particularly those in your credit file.  The best fraud protection service will also monitor your public records. The sooner you catch the fraud, the easier it will be for you to clean up the mess and take action to help to prevent it from happening again.

If you do not use a fraud protection service and are an identity theft victim, you will usually find out one of four ways:

1. Denied.
   • Many people have no idea what the status of their credit is until they need it.  As far as they know, their credit is good, but then then apply for a mortgage or another loan and are turned down.
2. Ripped off.
   • It is a clear indication that you have been a victim if your credit card statement contains charges that you did not make.  Another obvious sign is a statement for a card that you didn’t know you had, or an undeserved notice from tax authorities.
3. Collection calls.
   • Dreaded collection calls are bad enough when you actually owe money, but calls for debts that you never incurred mean a problem.  It is not a good idea to try to convince them that you are not the person they are looking for – even if they were to believe you they have no way to verify this information.  Ask them what the name of the company that says that you owe money is, and contact them directly.
4. Missing mail.
   • Don’t blow it off if you don’t receive a monthly statement or bill.  It may have been stolen for the personal information, or a criminal may have hijacked the account, changing the address associated with it to make it less likely that you notice the fraudulent charges.

Identity Theft Protection Reviews: Protect Your Identity Now

Your identity is incredibly important.

But the reality is that anyone can steal your information and pretend to be you. This attacker can then proceed to commit fraudulent activity or open new accounts in your name. Both of which can have a negative impact on your credit unless you take immediate action.

Here are steps to take to protect your identity.

Buy ID Protection Services

Credit monitoring is a key selling feature of identity theft protection services. You get alerts of certain types of activities such as credit enquiries or new accounts in your name. If anything suspicious shows up, you can take appropriate steps to recover your identity.

Be sure to read these customer identity theft protection reviews to help you decide which service to get.

Review Bank Statements

Regularly checking your debit and credit card statements online is a good idea to limit any financial damage that identity thieves can do to your accounts. Look for anything suspicious such as purchases made in different locations or cash withdrawals in small amounts. Both of these are indications that your identity may be compromised.

Maintain Antivirus Software

Identity thieves increasingly use viruses and other harmful programs to gain access to sensitive information. So it is important to maintain some kind of antivirus software on your personal computer. Choose an identity theft protection service that provides antivirus software and other security features.

Don’t Overshare Information

Social media makes it easy to connect with friends and post status updates. But always be mindful about the information you share online especially anything that can be used to answer personal security questions. Another recommendation is to set your privacy settings at the highest level to prevent others from getting information about you.

Identity theft continues to be a major problem, costing billions of dollars in financial damage every year. Take the steps as described above to help protect your identity. If you decide to invest in identity theft protection services, be sure to first read several reviews before making a decision. Many services now offer a free or low cost introductory trial that you can try.