Minimize Your ID Theft Risk!

Deterrence

The first step in finding a solution to the identity theft problem is deterrence. There are a variety of simple steps that smart consumers take in order to protect themselves from ID thieves. Some deterrence measures, such as protecting your Social Security number, are common sense and only require action on your part. Other measures, such as requesting a credit freeze or fraud alert, require the involvement of outside consumer resources.

Social Security or Tax ID number

Your Social Security or Tax ID number can be dangerous in the hands of the wrong person. Keep your Social Security card in a safe place other than your wallet or purse. If your healthcare provider uses your SSN as your policy number, request an alternative number. Do the same if your state uses your SSN as your driver's license number or your school uses it as your student ID number.

Trash and mail

To prevent identity thieves from piecing together your critical information by raiding your trash and recycling containers, shred important documents: bank and credit card statements, expired credit cards, personal copies of credit or loan applications, insurance statements and medical forms, as well as credit card offers. By calling 1-888-5-OPT-OUT (1-888-567-8688) you can limit the amount of credit card offers you receive via mail by opting out of receiving prescreened credit offers. Additionally, many banks that offer online access to account information encourage their members to cancel receiving monthly account statements in the mail.

Fraud alerts and credit freezes

Fraud alerts and credit freezes do not protect consumers against all types of ID theft. However both of these processes offer consumers protection from an ID thief opening a new line of credit. Credit freezes prevent creditors or third parties from accessing your credit report, a necessary step when opening a new credit account. Unlike credit freezes, fraud alerts still allow businesses to check your credit report, however those businesses must contact you to ensure your identity before issuing a new line of credit in your name. Once placed, a fraud alert expires after 90 days. An effective ID insurance service should routinely file fraud alerts on your behalf.