a) Don't make yourself an easy target! Men with wallets and women
with purses-- both stuffed with every credit card they own--a disaster waiting to happen.
Carry only the basic credit cards you use (or might use) every day with you:
-- Major charge card (Visa, MasterCard, Discover, American Express)
-- One or two gas cards
-- ATM/debit card....
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...and that's it! Think about it...who ever uses
every credit card in their wallet at the same time on the same day? b) Keep an up-to-date
list of all of your credit cards in a safe place. No, a copy in your briefcase or purse
isn't a safe place, Einstein. Know who all of your credit cards are issued by, the name
their issued in, the expiration dates, and the toll-free phone number to call if you are
victimized.
-- Question: Are those credit card security services worth it? You know,
the companies that offer to call all of your creditors in case you lose a card (or cards)
and some of them even insure you against the $50 liability per card.
-- Answer: It depends. First off, is it worth the $12-25 annual fee to a company
that will do the same thing you can do on your own? Each consumer needs to answer that; if
you travel quite a bit for your job and time is short, it makes perfect sense. If you're
at home mostly and could call each company if necessary, it's probably a waste of money.
(But also consider that the average person carries 8 credit cards--with a minimum
potential liability of $50 per card that the consumer is on the hook for, that's $400 in
losses if you lose your wallet full of cards. It's cheap insurance.) |
c) Once you pare down the number of cards you're
carrying, keep all of your other credit cards in a safe place. No, you sock drawer
probably isn't the safest place in the house. Accessibility is certainly a factor if
you're going to get serious about cutting down the number of cards on your person;
consider putting them in an envelope in a file where ever you store important financial
records, or picking up one of those "hollowed out" books and placing them there.
Even an envelope in between your mattress is better than nothing.
d) Beware of PINs! You know those personal identification numbers that allow you to get
cash advances off of your credit cards, or withdrawals from your checking account? Don't
write down the number on a piece of paper in your wallet or purse and think the crook's
not going to try it.
Writing the number backwards isn't fool-proof either. Nope, your birthdate probably isn't
a good idea--it's commonly used and easily found either on your driver's license or
through public records (remember, we're talking about the ease of access to information in
this episode). Try a number that you can easily remember but couldn't be figured out
easily; maybe it's your first child's birthdate, or your wedding date or year, or maybe
the year you got married.
e) Receipts are dangerous, too! Receipts usually carry all of the pertinent account
information necessary to tap in and do damage. "Carbons" carry the same
information and are easy to locate, especially around cash registers and shopping malls
and their parking lots. Protect them just like they were the credit card itself; take them
home and put them in a safe place or if you don't need them, tear them up thoroughly or
burn. (Dumpster divers)
f) GREAT fraud stopper (unless you're an extreme case): Using an indelible marker like a
laundry marker (Sharpie) write on the back of the card (not on signature or magnetic
strips) CHECK PHOTO ID!
That'll cool the heels of about 97% of the credit card fraud underworld.
LIFESTYLE CHANGES:
a) On your printed, personal checks from your bank, the only information you should
have on the front of the check should be:
-- Your name (prefer initials such as B.F. Dover)
-- Your address (prefer a mailing address, such as a P.O. box)
.....and that's it!
-- Do not put your home phone number on your checks (the clerk can write it on the check
if they need it).
-- Do not put your driver's license number on the front of the checks.
-- Do not put your Social Security Number on the front of the checks.
-- Do not let any clerk write a major credit card number on the check (as a secondary form
of identification)
-- Do not let any clerk write your Social Security Number on the check (as a secondary
form of identification)
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b) Do not give out your Social Security Number to
anyone just because they asked for it! This 9-digit number is the key to all of your
personal, financial and medical information. * The only people/agencies you're required to
give it to are:
-- Law enforcement officials (check their credentials first!)
-- The IRS
-- Your bank/S&L if you're opening an account of any kind
-- Any state or federally funded agency from which you're attempting to get some sort of
aid (AFDC, food stamps/subsidies, student loans or grants, etc.)
* Others that may ask for your Social Security Number include:
-- Potential creditors. You want a loan? You want a credit card? You want to buy that car
or that house? They need to check your credit, so be prepared to cough it up.
-- Companies like the cable company. They're extending you credit, they have a right to
see what your pay history is like and determine if they need to get a deposit from you
first. You want your Nickelodeon, then prepare to cough up the number.
-- Schools. Most schools (K-12, public or private) and universities or colleges are lazy
and use your Social Security Number as your "Student ID Number." REFUSE TO
GIVE IT TO THEM! |
This is too sensitive a number to have on all of your paperwork, grades sheets, etc. Let
them give you an alternative number; they won't like it, but that's too bad.
-- Doctors, dentists and other health care providers. They're just as lazy as the schools
and will many times utilize this number as your Patient ID Number, but one of the real
reasons they want it is if you (or your insurance company) won't pay up, they'll track you
down via your SSN and will put it on your credit reports. (If you're not insured and
paying cash, refuse to give it to them!)
-- The pharmacy. "We just need it for our database..." What? Whose data base?
They don't need your SSN; refuse!
-- Your insurance company. They need your SSN to check your credit before writing your
insurance (it seems that bad credit ratings directly correlate with a potential for higher
losses or fraudulent claims, so they say). You can refuse to give it to them if you want
to, but they're not required by law to write your insurance coverage. They've got you
where they want you on this one.
c) Other identity-saving precautions that may sound extreme, but extreme circumstances
call for extreme measures:
* YOUR HOME ADDRESS:
-- Strongly consider getting a mailing address, like a PO Box or a
"drop box" address like Mail Boxes Etc. Direct all mail there; put a change of
address in from your existing home address to this new address.
-- Remove clues for door-to-door con artists and identity thieves such as mail boxes with
names on them; front door mats saying things like "Welcome to the Jenkins Home"
or ceramic name plates that hang by the front door that read "The Bates Family".
You're asking for trouble when you give any clues to strangers.
-- Be extremely wary of anyone going door-to-door. Kids working to earn credits or money
for that summer trip by selling you magazine subscriptions is no longer a piece of Norman
Rockwell Americana--it's an invitation for potential fraud. Individual taking surveys
should not be cooperated with.
* YOUR HOME TELEPHONE: Contact the telephone company and ask them to:
-- Unlist and unpublish your phone number. If this seems too extreme, ask them to not
publish your address at the very least.
-- Change your listing from (for example) Benjamin Dover to B.F. Dover. (No gender
references needed).
-- Ask to put a password on your account. Sounds crazy, but anyone can call up posing as
you and get change your billing address, get duplicate bills from the last month or two or
three sent to them and look at who you're calling, and even call them and glean more
information about you/your private life that could be used against you in a
criminal/devious manner later.
-- Get your home telephone number identity permanently blocked from revealing your name
and phone number on Caller ID services. Many times these Caller ID services can reveal
information about a consumer responding to a blind phone or mail solicitation campaign.
You respond to an "urgent" call or letter and they've got you.
-- NEVER give anyone calling you with any type of story any information about:
| - Your personal/private banking information. Whether we're talking checking or savings
account information, if you give a stranger (which is anyone that you don't actually
recognize their voice and they called you) any information about your accounts they can
easily debit your bank accounts without a signature or a check. - Any credit card
information. Don't "verify" account numbers or expiration dates or names on
cards or issuing banks. Don't do it! |
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And finally, the single most important thing consumers need to do.....
CHECK YOU CREDIT REPORTS AT LEAST ONCE A YEAR!
* You might think your credit is perfect because you pay your bills on time and get credit
card offers in the mail all the time, but don't be lulled into a false sense of security.
* If you're married, get a copy of your spouse's report as well.
* Get copies of your credit reports from all three major credit reporting bureaus in the
United States.
* If you've been denied credit or employment or insurance (if that prospective employer or
insurance company checked your credit reports in their decision making process) for any
reason in the last 60 days, under federal law you are entitled to a free copy of your
credit report from the credit reporting bureau that furnished the information.
* When you do get your credit reports, pay special attention to the INQUIRIES section.
Inquiries automatically give you a trail of who has gotten a copy of your credit report
from the date your report is printed, plus 2 years prior.
* Unauthorized inquiries are a key signal to the consumer that someone is either obtaining
their credit information illegally or could be trying to obtain credit in their name (i.e.
stolen identities).
* Here are the names and phone numbers of the three major credit reporting agencies in the
country:
Experian
(800) 682-7654
Equifax
(800) 759-5979 or (800) 685-1111
(will cost around $8 in most states)
TransUnion
(800) 851-2674
(will cost around $8 in most states)
We know all about you here at Lexis/Nexis!
You'd be surprised at the amount of information contained in the
files of Lexis/Nexis, a research database used frequently by members of the media and
legal profession.
-- Consumers can have their information removed from the files by going to their website
address and getting more information or faxing their request in writing to: (800) 470-4365
or mailing a letter to: Lexis-Nexis P-Trak
PO Box 933
Dayton, OH 45401
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