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People may go through life with more than one name, but a social security number is forever. Like fingerprints, no two are alike, and this number is an important part of your identity. Identity and your credit rating go hand in hand and provide you with privilege and power. In this age of computer hacking and cell phones, it is more important than ever to protect your good name. The following are ways to be sure that your identity and credit rating remains good and keep it safe from error and fraud.
First and most basic is to be careful about divulging information about you. Be especially careful about your credit card and social security number. When you pay by credit card in a store, be sure to keep your receipt and do not toss it in the trash. Some criminals make a living sifting through garbage for these credit card receipts (which usually include a copy of your signature) to use for fraud. Also, on the Internet, only give information to sources you know that have a secure server. Be very careful about divulging your credit card number over the phone to telemarketers, even if they tell you it’s “secure”. You cannot see this for yourself and thousands of scams are reported where the goal is to obtain your name, address and card number. If you have to give your number over the phone for an airline or hotel reservation, use a “land line” as opposed to a cordless phone, as conversations on a cordless or cell phone can sometimes be “picked up” and used for fraud.
It is extremely important that you report any lost or stolen cards immediately. Also, do not keep your Bank or Credit Card pin number in your wallet as it helps a criminal who has stolen the wallet help themselves to your cash. If you need to write down your pin, one idea is to put a fictitious name in your address book with your local area code and your pin number as the phone number. Just don’t be obvious, a crook could figure out Mr. A.T.M Card quick enough. Be creative, but subtle. And be careful of who is standing in back of you in line at the cash machine. Do not frequent cash machines at night, and whether it is a walk up or drive through, be wary of your surroundings.
Second, keep close tabs on your credit report. Items on a credit report do not stay forever but may seem like it. Credit reporting agencies do not grant or deny credit but they do supply information in the form of a report to the credit grantor listing all credit transactions, even credit you applied for. Negative items such as slow pays or “charge offs” will typically stay on your report for seven years, and credit that you applied for stays on for about two years. It is wise not to apply for too much credit, as this counts against your credit rating, whether you are approved or not. Numerous credit applications raise red flags for potential lenders. You can obtain a copy of your credit report for a nominal fee from any of the popular credit reporting agencies. You can usually get a copy of your credit report for free if you are denied credit based on information obtained in a credit report. Once you get the report look carefully to be sure that all of the information is accurate. Computers create errors and someone names Kathleen Johnson can be confused with another Kathy Johnson with a similar social security number. If you find an error, dispute it immediately. Obtain a copy of your credit report every three months or subscribe to a service, which will periodically send you a copy as well as advise you of any unusual activity. Also seeing activity in black and white helps you keep your charging habits under control or at least under surveillance.
By keeping tabs of your personal information and credit report you can take charge of your finances and protect yourself from fraud.
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