Tuesday, July 21, 2015

What To Do In Case Of Credit Theft

Most of us are very much aware of the importance of keeping our personal belongings safe, particularly our bank cards, debit cards, credit cards, social security cards, and so on. At the same time, however, most of us keep all these things together in a single place: our wallet. The problem is that it is very convenient for anyone who is contemplating the crime of theft of credit. But becoming a victim is not your fault. What matters is that you know what to do next.

What to Do After a Credit Card Is Stolen

As soon as you notice that your credit card has been stolen, you need to telephone your credit card company and tell them to cancel the card. In this way, whoever took the card will not be able to make transactions with it. Additionally, you need to run through the last transactions noted on the card to make sure the thief hasn't already used it. Of course, don't forget to phone the police as well.

A bigger danger than the immediate theft of the balance of your credit card, however, is the theft of your identity. This is why you should also sign up to a protection against credit theft service. Unfortunately, there isn't a service on this planet that can 100% prevent this crime from happening. What these services do is to monitor your credit file for certain activity that could indicate identity theft, like applying for a new credit card or a loan. When detected, you receive a prompt alert so you can investigate and take precautionary measures if you do suspect fraud.

This notification, or alert, is vital. An alert is sent out to you promptly. This means that you may be able to notify the company who left a search on your credit file of the fact that this is actually a case of stolen identity. As a result, they will no longer send the product out. They will also be able to liaise with the proper authorities, as they may now have an address of the culprit.

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