Seems like this just keeps getting worse as we deal with hackers and others who steal our information. Here are a few ways to protect yourself.
We read, it seems, of daily thefts of credit card information. Big companies get hacked like Capital One, Target, Home Depot and so on. You can minimize your risk going forward.
If you become a victim take the following steps:
- Get a replacement card. It should not be hard as the company is already embarrassed and wants to reduce further damage.
- Go on-line and look over your account for activity that you do not recognize and dispute it.
- Freeze your credit with the credit reporting agencies. Log on to your account or create it at TransUnion, Equifax and Experian. It’s a little tedious, but it’s free and you can freeze/unfreeze as needed. Then no one can access your report without your approval.
- Place a fraud alert if you don’t want to freeze your account. A fraud alert won’t completely lock down your credit reports the way that a credit freeze does, but it does require creditors and lenders to take the extra step of verifying your identity before authorizing new lines of credit in your name. No need to sign up for high priced fraud protection.
- Order a copy of your credit report. You can have one free one per year. Get one every four months from a different agency so it will be no charge. Look them over and question what you don’t understand.
- Watch out for phishing scams. These can be very realistic looking emails or texts as scammers are trying to get additional information such as expiration dates and CVV codes and more. Don’t fall for emails requesting personal account information. Better to call the company and ask why this is being requested and you may find it’s a fake attempt.
- Use strong passwords and a password manager. Long, complicated passwords help a lot and your manager can create and remember them for you. Use two factor authentication (2FA) when offered to give you another layer of protection.
Even if you haven’t been a victim of a credit card breach, it’s important to act proactively to make yourself less vulnerable. Also, if you use cards, it’s better to use a credit card for purchases as it has much more legal protection. Generally you are only responsible for about $50 of incorrect charges Only use your debit card for cash from your bank. Maybe don’t even carry your cards! Put that information in you smart phone’s digital wallet and use tap to pay (Apple Pay or Google Wallet).