3 Simple Ways To Prevent Identity Theft

The credit card industry seems to be growing rapidly despite the recent economic troubles plaguing most of Americans. According to some recent studies of the credit card industry, the average American household has at least one credit card. In fact, this recent survey found that 81% of households in America, have at least one credit card. Many American households have more credit cards that they can wisely handle.

Credit cards offer much temptation to today’s modern consumer society. Credit cards make it easy to consume more and more products each day. Products that most American’s only use once and then discard or forget all about because they have gone out and gotten even more stuff. It never seems to end, and the sales pitches keep coming spurring even more wanton consumerism.

Since many Americans decide to get at least one credit card, using credit wisely becomes an important skill to acquire. Irresponsible use of credit cards can lead to the spread of fraud and fraudulent activities affecting the credit card industry, and the pocketbooks of many Americans.

One of the most common fraud-related problems in America is identity theft. In fact, it has  been documented by the Federal Bureau of Investigation, the government agency tasked with dealing with such issues, that between 350,000 to 500,000 cases of identity theft take place in America each and every year.

What is identity theft? Identity theft occurs when criminals access personal information about the victim that allows them to impersonate the victim, and use their identity for financial gain. Personal information such as social security numbers, credit card numbers, work related information and home addresses is used to create fraudulent applications for credit cards, purchase consumer goods or services with stolen credit card numbers of any combination of actions that result in the use of the victims’s money or credit to buy goods or services.

What are some of the way’s that consumer’s can prevent identity theft from becoming a problem for them?

Start by protecting your personal data and financial information. One way that criminals get access to this type of information is by picking up the phone and calling the intended victim under false pretenses. It is a good idea to never  engage in phone calls that require you to give out personal data or information. Many criminals impersonate service providers in order to trick the victim into providing the information needed to duplicate the victim’s identity and use it for financial gain. Even if, and especially if, the caller says he is from the bank that issued the credit card, or account number in question, caution should be exercised and information not disclosed. It is important to verify that the caller is, indeed, a  representative of the bank, or financial organization that is supposedly calling you to request this information.

Do not provide your credit card or banking details in response to freebies and give-away offers. Many scam artists, or criminals, pretend to give away valuable prizes, information or rewards in order to trick consumers into giving away their financial information. It is a good idea to never give out information that is not going to be stored securely, or used in a secure environment. A cheap paper or post card form is not the place to provide your financial information details to strangers.

Review your credit cards and financial statements on a regular basis. Having a regular check up on your credit card balance, bills and other financial documents is an effective way to prevent the criminal misuse of your financial resources. Review or verify your financial statements regularly. Ignoring your financial statements is an easy way to fall victim to identity theft. Regular checkups of your financial statements and accounts will help you find potential instances of identity theft.

Identity theft is a huge problem and concern to many Americans. Have you fallen prey to identify theft? How did it affect your financial situation? If you have experienced identity theft, share some tips with our readers in order to help them protect themselves from this potentially financially catastrophic problem.



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About Gjorge:
Gjorge is a professional writer and editor. He has worked as an educator, and as a real estate, finance and insurance professional. He continues to be an entrepreneur and small business owner. He has also worked as a professional musician and songwriter. Learn more at www.Gjorge.com
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