The Credit Challenge

Identity theft has been a real epidemic as of late, and it can happen without you knowing about it. According to the FTC, 10% of people that have suffered identity theft said that the thieves managed to accumulate over $6,000 from them, and 5% said that the thieves were able to acquire over $13,000. As you can see, identity theft can cause many financial damages, and also completely destroy your credit.

In order to help protect you from this happening, here is a list of steps to take to protect yourself from identity theft and a shattered credit history.

1. Be cautious about disclosing your personal information and account numbers over the phone, online, or by mail. Be sure that you are dealing with a reputable company.
2. Carry only the ID or credit card that you will be using and keep the other ones in a safe place at home. This will minimize the damages and your time to report everything that is missing.
3. When you receive a new card, sign and activate it immediately. You can even sign on the back with ASK FOR ID rather than your signature.
4. Don’t carry your social security card around with you, leave it at home.
5. Shred your mail, especially those with account information, or even preapproved applications. Tearing them apart isn’t always enough.
6. Keep a detailed list of all your account information with account numbers and phone numbers in a safe place. If you happen to lose your wallet or purse, you have a way to contact them immediately and deactivate your cards.
7. Regularly check your credit report. This is most important because you get to see what credit activity you’ve had.

Make sure that you follow these 7 steps to make sure that you are protected.  Who knows, you may end up thanking me later.

If you take identity theft seriously, and your financial privacy even more serious, then I recommend LifeLock.  It is an identity theft prevention service, and it is so safe, the CEO posts his own social security number all over the place.  Find out more about LifeLock, but only if you take your credit and identity seriously.