Scammers are getting better at accessing your personal information and using your credit. Every week, we hear about people’s credit being compromised. Here are a few things you can do to protect yourself.
Check your credit report often. Taking a proactive approach to monitor your credit may help you detect fraudulent activity. A common misconception is checking your credit can lower your credit score. In fact, at AnnualCreditReport.com, you can receive free weekly reports from the three major credit reporting companies – Equifax, Experian, and TransUnion.
If checking your credit score seems daunting, consider using a company to do the monitoring for you. There are free services and paid services. My home and auto insurance company offers this service for free. Each month, I receive a notice when the report is ready. If a free service is not available to you, consider a company that will monitor your credit and provide you with a report for a fee. Remember that in all situations, you receive information after the fraudulent activity has occurred.
To prevent someone from using your information fraudulently, you need to lock down or freeze your credit. Freezing your credit requires creating accounts with the three reporting companies – Equifax, Experian, and TransUnion. Once you create an account, you can freeze and unfreeze your credit online. This is easy to do but can be a hassle if someone needs to verify your credit score – to open a new credit card, take out a loan to purchase a car or home, or rent a new apartment.
If a fraudster gains access to your credit, cleaning it up is a headache, and it takes a lot of time and energy. The best way to protect your credit is to be vigilant.
- Be cautious when scanning QR codes – one of the latest scams to get your credit card and personal information is malicious QR codes placed over the top of legitimate ones.
- Don’t open links or attachments in emails or texts unless you know who the message is from, AND you were expecting the link or attachment.
- Never give your personal information to someone who calls you on the phone saying they are from your bank, credit union, credit card company, etc. Instead, contact the company directly at the number listed on the company’s website or on your account statement.
- Don’t click on a message that appears on your computer saying your computer is infected or compromised. This may look like it’s directly from Microsoft or another known company – even showing a familiar logo. Fraudsters are unbelievably proficient in copying the look and feel of well-known companies.
The truth is you are the only one that really cares about protecting your credit. Take this responsibility seriously!
