With the advent of the internet a new type of illicit activity was created called online identity theft. Protecting yourself against online identity theft is probably the #1 reason why credit monitoring is so important. Without keeping close tabs on your credit, it is far more difficult to determine if you have been the victim of such a crime. Of course the worse way of finding out you have been a victim of identify theft is to look at your account balances and see that there has been a huge reduction in your account balance, but by then, it’s often too late.
Whether you have stellar, good, or even a negative credit score, it is important that you should monitor it regularly. Be sure to check your credit history on regular basis or use a credit fraud monitoring service. The precise monitoring provided by these types of services range from changes in private information, for instance addresses and companies, to transformed credit accounts, or modifications in your credit report and more. These details help safeguard you against id theft and monitor any changes made to your credit report by notifying you within 24 hrs.
The major advantage of activating identity theft protection proactively is that you will be able to take action against it or completely stop it before too much damage is done. Ever since credit fraud protection services started, they have managed to stop thousands of online thieves and from becoming successful and destroying individual’s credit. These services can protect you from the hassle of dealing with all of the lawful procedures and mitigate the costs that come with it.
When using a credit monitoring services, some of the additional steps you must take are:
To protect your privacy, finances, and other personal information be sure to use a reputable credit monitoring service.
- Put important documents in a secure place at home
- Carry credit cards and debit cards only if you have a plan of using them
- Carry your Social Security Card only if it is really required
- Cut, destroy and block your old unused cards, checks and other receipts related to your finances
- Shop only on secure web site and with the companies you trust. Check for trust marks before any online traction like SSL certificates.
- Proactively check your bank accounts, cell phone and credit card statements to avoid any suspicious activity.
- Personally verify your credit report at least twice a year.