Strange Account Activity Could Be A Sign Of ID Theft
Your finances can be threatened by identity fraud. It’s important to understand this. There is no way to completely avoid identity theft, but you can identify it sooner rather than later. The earlier you realize what has happened, the better off you will be. One of the things you can do to catch ID fraud sooner is to monitor your financial accounts (especially credit card accounts) for strange activity.
Do You Recognize That Loan?
One of the most obvious tip offs to ID theft is an account you do not recognize. Yes, your credit cards might provide the clearest idea of ID theft. You receive a document in your mailbox telling you that an account was closed — and you might not have actually opened that credit or loan account. When this issue comes up, you need to contact the customer service department of the credit card issuer or lender to figure out what happened. It might have been a simple mistake, or it could be someone has stolen your identity.
Another thing to watch out for is the appearance of unfamiliar credit card statements in your mailbox. You might be surprised at how phishing scams are increasing in sophistication, even through regular mail. Fake credit card statements are either for a credit account you don’t actually have (at a bank you don’t use), or they show that you owe an amount higher than you do. When you reach the number provided on the credit card statement, your information is taken; your identity stolen like that. Rather than trust the number on the statement, you should visit the official web site online and get the real contact numbers.
Keep Up with Information in Your Credit Report
Additionally, it is a good idea to watch for mistakes and inconsistencies on your credit report. Watch for accounts that are not yours, but that show up in your report. You have the right to a free credit report every year. You have to ask for your free credit report by mail. . After sending your [spin]request, you will be sent your free credit report. Check through it for indications that someone has opened credit accounts in your name, possibly pointing to ID fraud.
Look Carefully Through Your Bank and Credit Card Statements
You need to go through your financial statements each time you receive them, on the alert for strange activity. Keep your own records of transactions in a ledger or by using personal finance software. Each month, match your personal records with what is in your statements. This includes keeping track of credit card spending. You want to make sure that you know your expenses. If something unexpected appears on your financial documents, that could be an indication that your identity has been stolen. If that happens, you need to move quickly, attempting to fix the situation.
Vigilance is vital when it comes to preventing further damage by ID theft. It’s probably superfluous to pay for ID protection insurance. Watch out for strange account activity. When you notice something out of the ordinary, follow up on it.