Credit Card Identity Theft
October 4, 2007
Credit Card Identity Theft- Credit Card Fraud is Just the Start of the Havoc that Follows
Credit card identity theft is an increasing crime both online and off. The statistics for this type of identity theft are staggering - and quite frightening.
Learning how credit card identity theft happens is the first step in learning how to protect yourself from this crime.
How Does Credit Card Identity Theft Happen?
Credit card identity thieves don’t actually need your credit card to steal your personal information and rob you blind. Identity thieves are not beyond rummaging through your trash to find a carelessly thrown away credit card statement or sneaking in your mailbox to steal a bank statement. These documents give them all they need they go on a whirl-wind shopping spree - leaving YOU with the bill.
When someone uses your credit card information without your consent or knowledge, this is called credit card fraud. However, credit card fraud is the gateway to a full-blown case of identity theft for most consumers.
Details that can be obtained from your credit accounts can give these criminals the building blocks to build a complete profile on you - and then totally consume your identity ruining your good name in the process.
How Can I Prevent Credit Card Identity Theft?
Common sense and a good identity theft protection strategy are the crucial first steps that can deter a potential credit card identity theft from happening.
• If you want to throw away any credit card statements or documents that have sensitive information on them, shred it first.
• Check you mail regularly. If you can’t check your mailbox everyday, ask a neighbor or trusted friend. Mail sitting in a mailbox invites trouble.
• Analyze each and every charge on your credit card statements. If anything appears suspicious, report it immediately to your credit card institution.
• Try to not let your credit cards out of your sight when shopping. Also, if a merchant is still using the old carbon copy style of processing credit cards, ask for the carbon insert.
• When using your credit card online, make sure you are giving your information thru a secure connection from the merchant. A simple “https” at the beginning of the web address can tell you that the connection is secure and will put you at a lower risk for online identity theft issues.
• If your credit card company offers photo credit cards, get one! A credit card with the correct owners photo on the front makes it easier for merchants to note unauthorized use of a credit card.
The Reality of Credit Card Identity Theft
US consumers are only responsible for up to $50 of unauthorized charges in a case of credit card fraud, but a full-blown case of identity theft is another story. Identity theft victims have reported an average cast of $8,000 to repair the damage done to their credit.
The only sure-fire way to guarantee your credit card information, and your identity as a whole, is kept safe is through the use of an identity theft protection service such as LifeLock.
As a consumer, it is important to educate yourself on identity theft and protect yourself and your good name.
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