Identify theft is the fraudulent misuse of credit cards, bank accounts, or other personal information. It affects millions of people every year. Hubby Tony and I haven't had any problems, but there have recently been a few close calls. Earlier this year Schnucks, a local grocery store chain where I often use my debit card, reported that their system had been breached and more than two million credit and debit cards were affected. Last month Tony got a letter from one of his credit card companies telling him that his number may have been compromised.
Because of all the potential issues, several years ago we set up a system to check our credit reports on a regular basis. Did you know that there are three major credit bureaus (Equifax, Experian, and TransUnion) and you're entitled to a free credit report from each of them once a year through the Website AnnualCreditReport.com? I get reports in March, July, and November. Tony does three different months, which means we're checking six times a year.
It takes about fifteen minutes to enter the information and get the report, which tells you all the accounts (credit card, auto loan, mortgage, etc) that have been opened in your name, the date the account was opened, the credit limit or loan amount, the account balance, and your payment history.
The peace of mind I get from checking my credit reports is definitely worth the time it takes to do the project!
Five years ago today: New Thing #180--What's For Dinner?
Because I was a victim of identity theft, I have signed up for a service that sends me a report each month telling me if there has been any activity. Sure enough, a few months ago I got a report, as soon as it occurred, that someone had opened a credit card using my information. I was able to contact the company and get it shut down. There is now a note on my credit reports, all three, that no new accounts are to be opened unless a certain process is done. Sure gives me peace of mind as Fresno is the capital of identity theft due to the heavy use of meth here.
ReplyDeleteWhat a scary thing to have happen! Glad you've taken steps to solve the problem
DeleteI hope the info held by these credit bureaus never gets compromised. Good tips.
ReplyDeleteI had a tremendous credit snafu once, when a department store merged mine and my daughter's credit into one--me. I too get credit reports, and imagine reading one that said Other identities you have used; Other social security numbers you have used. All the blame was on me, not on JC Penny. Not fun to untangle.
ReplyDeleteOldest Son is a Junior; a couple of years ago we had some of his information on our credit records and vice versa. I think it's all been taken care of, though.
DeleteI once discovered a telephone account opened under my name from reading my credit report. I called the phone company and it was for a different state than I lived in. I immediately closed the account.
ReplyDeleteYou'd think with that, and having a banking background, I'd do a better job of keeping up with my credit report. I've checked it several times since then, but not with any regularity. Fortunately, that was the only thing I've ever caught.
I'm learning some scary stuff from these comments!
DeleteThank you for the reminder! I don't think we've done this for a long time. One of the people I went to China with said their credit card numbers were stolen and used in Brazil, for goodness sakes!
ReplyDelete