Credit card identity theft can occur over the Internet and have lasting consequences. Regrettably, some people don't realize their personal information is compromised until they apply for a loan. Thieves have several tricks for stealing your personal information. Learn the ways they acquire your information and tips to protect your card numbers.
Consequences
Having someone take your credit card number and it to buy items can negatively affect your personal finances. And if someone applies for a credit card in your name, this move can hurt your personal credit file because these charges often go unpaid. Thieves can max out your existing credit cards, which increases the your outstanding balances. If unaware of this crime, and if you do not report theft to your credit card company, these higher balances may show on your report and possibly lower your score.
Acquiring Personal Information
Thieves have several techniques to getting hold of your credit card information. Oftentimes, they employ online methods. They can hack into your computer system, or break into a company's system and access customer credit card numbers. Another method for acquiring credit card numbers involves a technique called phishing where thieves randomly send countless fraudulent emails asking you to update your account information with a specific company. They may ask for your name, credit card number and expiration date.
Online Protection
The best way to protect your credit card numbers online is to ignore any unsolicited emails. Remember, your credit card companies will never request personal information through email, and they will never ask you to enter your credit card numbers online. Emails of this sort are fraudulent and an attempt to steal your card information. Do not click links or respond to these emails. Delete these correspondences and report the email to your credit card company. And if shopping online, only enter your card information on sites that feature a secure logo, such as padlock or Verisign logo.
Credit Report
Because Internet identity theft can go unnoticed for weeks or months, it's imperative to stay on top of your personal credit history. There are ways to keep aware of your credit situation. You could sign up for credit report monitoring and receive alerts whenever a new account is opened in your name. Another method involves ordering your personal report from Annual Credit Report annually. Check your report for unauthorized credit card accounts, and check each entry to ensure correct account balances and accurate information. Report negative findings to your credit card companies.
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