Protect Yourself from Personal Fraud, Credit Card Fraud, and Identity Theft

If you have concerns about Identity Theft this lens by Kimberly Dawn Wells features lots of tips, ideas, and resource links on How to protect your bank account, credit cards and more on her lens Protect Yourself from Personal Fraud, Credit Card Fraud, and Identity Theft on Squidoo.

Here a few of my favorite tips from Kimberly Dawn Wells (followed by a few tips from me):

KIMBERLY's TIPS

• Read your bank statements closely for anything that you don't recognize, and look into it immediately. Don't forget ATM withdrawls and miscellaneous memos.
• Use secure ATM locations. Watch for people lurking nearby or extraneous electronics attached to the ATM interface. If the machine takes your card (as opposed to just letting you swipe it) make sure you have it when you walk away.
• Avoid letting businesses debit your bank account instead of a credit or debit card. If something goes wrong, a credit or debit card is so much easier to change than your bank account number.

CREDIT CARDS

• Cancel credit cards you don't use often.
• Only use your credit card online at websites you trust. If you have doubts, request to make a payment by mail or purchase from another company.
• Annual Credit Report

This is the official site where you must go to request your free credit report from each of the three major credit reporting agencies. You may request it once yearly, it is free, and it is well worth it!

• TransUnion
  This is one of the three major credit reporting bureaus that you need to be familiar with.
  Experian
  This is another of the three major credit reporting bureaus that you need to be familiar with.
  Equifax
  This is the third of the three major credit reporting bureaus that you need to be familiar with.

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ARIANE'S TIPS FOR PROTECTING YOUR IDENTITY AND FINANCIAL DATA!

1. Always use the same card for all online purchases. That way it if there is a problem, you only have to cancel one card.
2. If you have multiple cards, only carry one with you.
3. Make a copy of all the contents of your wallet, and update it regularly. (Try programming a recurring reminder into your calendar or any electronic reminder tool you use.  I use Outlook for all my reminders.) If it's stolen, you'll able to immediately alert all the relevant parties in case of potential identify theft.
4. Don't carry your social security card in your wallet.
5. Keep track of all your cards using a binder with business card or trading card page holders.  That way you can see all your cards at a glance and know if any are missing.  You can also make notes about your cards in the binder such as what the interest rate is, etc. TIP: Don't label the binder as credit cards - give it a code name and keep it in a secure, locked place.
6. If you must write down your passwords, never write down the real word!!! Establish a code system.  For example, if you use the word "password" write down p*d.  or any kind of code system like that you can remember.  If you use variations of the same word, vary the code for each.  Another type of code system would be, if you use your sister's name, write her birthday - only you will know it's really her name.

Hope you find these helpful!  Feel free to comment below with your favorite tips!

Comments

[David]

I have a way to significantly cut down on credit fraud:

Pass legislation to make companies that keep personal information responsable for keeping the information safe (just as they would protect their money) both in criminal and civil court.

You will see the number of diminish and most likely receive fewer junk mail/spam/phone calls during dinner.

[Kimberly Dawn Wells]

Hello Ariane! Thanks for mentioning this on your blog and getting the word out. So far, I haven't had any recourse with that latest problem *crossing fingers* You have an awesome blog. Keep up the good work, and maybe I'll see you on Squidoo soon? :)