Many people are worried about credit card fraud and identity theft. It seems incredibly easy for a thief to steal a person’s identity or open a credit card in their name. In fact, this happens to millions of people in America each year. There are steps a person can take today to prevent credit card fraud.
Check Bank Account Information
One of the ways for a thief to implement credit card fraud is by changing a person’s banking information to their own address or to a fake address where they can pick up the bank documents without the person knowing. This also makes it easier for them to then open new accounts without the person knowing. The person should confirm the information they have on file with the bank to ensure nothing has been changed.
Check Bank Transactions
While the person is confirming their account information with the bank, they should also check their transactions. They should go back at least one month but can do more if they haven’t checked the transactions in a while. Thieves often do a couple of small transactions to make sure their information is good before doing a larger one, so catching these transactions early can help a person prevent a larger purchase by thieves.
Secure Password-Protected Accounts Online
A person should also check to make sure their passwords are hard to guess and that they don’t have the passwords written down anywhere. They should never give their passwords to anyone and will want to use a combination of letters, numbers, and symbols to make a secure password that can’t be easily guessed. They should also never repeat passwords between different accounts online.
Password Protect Bank Information Through Phone Calls
It’s often incredibly easy for a person to get information by calling the bank and pretending to be the victim. To help protect against this, the person can usually add a verbal password to their account. This password will need to be confirmed every time they call the bank so the bank knows they’re talking to the account owner and not anyone else.
Get a Free Credit Report and Check it Carefully
Each year, a person can get a copy of their credit report from all three reporting agencies. This should be done to ensure there are no new accounts opened on their account they don’t know about. A person can do this today and once a year in the future to keep an eye on their credit. They may also want to check with their credit card to see if they can access this report monthly instead of years to catch issues faster.
These are all steps a person can take to prevent credit card fraud today. All of them have the potential to protect the person from fraud and identity theft, but none of them are going to work alone. For proper credit card fraud prevention, it’s important for a person to keep up with each of these steps on a regular basis so they can keep an eye on all of their accounts and personal information to ensure nothing is being used by a thief.