You should always be aware of how you use your cards and credit and how to keep it safe and secure for your credit protection. There are various tips and ways that are being offered in some reports and publications. Here are the ways in doing credit protection includes:
Observe credit monitoring
You must be vigilant and monitor your accounts personally instead of depending on credit monitoring in case you are subscribed to one. You can personally monitor your account and do credit checks yourself as well as check your credit report periodically. Carefully check your accounts to take note of all the transactions and report at once any suspicious or questionable entries on your transaction details. You may also check your bank accounts online as most already offer this feature.
Do not engage in “pre-approved credit” offers. If you happen to receive one, do not respond to it. There are a number of incidents involving “pre-approved credit” offers which have been the cause of being victimized by identity theft.
Freeze your credit
If you happen to fall victim to identity theft, immediately notify your bank or financial institution so that they could freeze your account. In doing so, no further transactions could be made using your account. At the same time, the bank or financial institution could also do credit monitoring of the progress and transactions made on your card. Creditors will typically not open up a new account unless a report is filed which decreases the chances that your account could be used for illegal purposes. However, keep in mind that freezes are also not bulletproof. Criminals could still access your account through the other businesses that you have previously done transactions with. Another option is that they could redirect your bills and e-mails to another address which they could easily access.
Be observant of the people around you and take care of your credit card and credit card details. Only carry the cards that you need everyday. Do not carry all of your credit cards with you at all times. It would be best if you would leave it at your home. Should you have one or more unused credit cards, immediately cancel your other cards by contacting the financial institution.
Once the card is already cancelled, check your credit score before cutting out the card into strips before disposing it. Do not write any personal information identification number on the back of your cards. This is in order for criminals not to use your cards if in case that it got stolen or robbed from you. Another tip is that you should write “check photo id” at the back of your cards instead of signing it.
Most banks and financial institutions at present require that you display your photo on the front. Having this is enough proof of your identity without needing to sign the card. You should also make a copy of your credit/debit card’s front and back parts. Place these copies in secure locations. Should your card got stolen; you could immediately notify your bank since you have a copy of its details.
Guest author: Amy Johnson is an active blogger who is fond of sharing interesting finance related articles to encourage people to manage and protect their finances.
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