Protect your Credit
Because identity theft and credit card fraud are among the
fastest growing crimes in the U.S., there are several steps you
should take immediately if your credit card becomes lost or
stolen, or if you find bills in your mail that you do not
recognize or charges you did not authorize.
The first step you should take is to initiate a fraud alert on
all your credit card accounts. There is a common misconception
that doing this will prevent you from obtaining any further
credit cards or financing. This is simply untrue. What a fraud
alert will do is require creditors to contact you by telephone
before any new accounts are opened in your name. It will also
require creditors to contact you by telephone before making any
requested changes to any existing accounts, such as increasing
your line of credit.
To place a fraud alert on your accounts, contact any one of the
three major credit bureaus:
Equifax: 1-800-525-6285
Experian: 1-888-EXPERIAN
TransUnion: 1-800-680-7289
The credit bureau you contact will then contact the remaining
two bureaus and all three will send you a current copy of your
credit report, free of charge. When you receive these reports,
look them over carefully. Note any accounts you didn't authorize
or debts you don't recognize. Also check that all your personal
information, such as name, address, and Social Security number
are correct. If any incorrect or fraudulant information is
found, contact the credit bureau to have it removed. Then
continue to check your credit report on a regular basis to
insure no further fradulant activity is found.
After initiating a fraud alert, you should then immediately
close any accounts you think may have been violated and submit
an ID theft affidavit to the credit card companies in question.
You should then file a police report with your local police
department and also file a case with the Federal Trade
Commission.
Identity theft is a federal offense with stiff penalties for
those who dare to attempt it and are caught. Take steps to
protect your credit and prevent yourself from becoming a victim
of this very serious crime.
About the author:
Karyn Kudrna is owner of the website
www.credit-123.com which
offers information on
low
interest credit cards
