Identity Safety Tips
For those of us it has happened to, we know that it is one of the worst, most fearful, knot in the pit of your stomach and skip of the heartbeat kind of feelings in the world. The moment, after checking every pocket and purse at least three times, that you realize your wallet is missing. Your wallet – the core of your soically functioning being . . . a miniature directory of your identity.. . . . the essence of who you are and what you have to your name. It goes completely against the notion of “not storing all of our eggs in one basket” that we keep our driver’s license, credit cards, debit card, medical insurance card, and countless other vital pieces of information and numbers all stored together. In the event of a lost wallet or stolen wallet, having all of this information in one place greatly increases your risk of identity theft. And, since many of us will be whipping out that wallet a whole lot more often than normal this holiday season, ProtectMyID has 9 great tips:
(And, by the way, it’s not a bad idea to apply some of these things to your cell phone, too, like writing down information stored within, and updating back-ups. Your cell phone is often just as much a microcosm of your life as your wallet is!)
1. Keep a record. If your wallet and everything in it were suddenly missing, you would need to know what you had lost. In a personal notebook you keep in a secure place at home, write down all of the information from the front and back of your credit and debit cards, driver’s license, medical insurance and other important cards. Be sure to update the list as needed. This will help you make the appropriate calls following a theft.
2. Limit your cards. What you don´t carry in your wallet is just as important as what you do carry. Only carry what you need on a daily basis. If you have multiple credit cards, carry the one you use most often. Don’t write PINs or passwords on the back of your credit or debit cards or on pieces of paper you keep in your wallet.
3. Protect your SSN. Your Social Security number shouldn’t be on anything you regularly carry in your wallet. If any of your identification cards from a school, library or gym use your SSN as your member number, ask the organization for a randomly selected number and a new card. Then shred the old one. Carry your Social Security card as infrequently as possible, because getting it replaced can be a hassle. If you need it to confirm your identity, be sure to return it to a safe storage place as soon as you can.
4. Make the calls. As soon as you´re certain that your wallet or important cards are missing, call the issuers of your credit, debit, medical and driver´s license cards. Notify them of the situation and ask for a new account or identification number. Verify that your old numbers are no longer active. Even if your wallet is returned, you can´t know for certain that someone hasn’t written down your card numbers to use at a later time.
5. File a police report . If identity theft does result from a lost wallet or stolen wallet, a police report filed at the time of theft will establish credibility. Even if you are traveling, file a report with local law enforcement. Always ask for a copy of the report for your personal records. If you later need to contest fraudulent charges or activity on your accounts, you´ll already have the report on hand.
6. Contact the credit bureaus. A thief may find enough information in your wallet to open new accounts or simply use your existing cards to commit fraud. By placing fraud alerts with the three national credit bureaus, you can help prevent new accounts from being opened in your name without your express permission.
7. Watch your account statements. Checking for the signs of identity theft is essential in the months following a lost wallet or stolen wallet. Carefully review each account statement, including your explanation of benefits (EOB) letters from your medical insurer. Look for purchases, transactions or services you didn’t authorize or receive. If you suspect fraud, call the number on your statement immediately.
8. Review your credit reports and with products such as ProtectMyID, it’s simple. Reviewing your monthly statements will only indentify fraud on your existing accounts. To identify new accounts fraudulently opened in your name, be sure to review your credit reports regularly – especially in the months following a lost wallet or stolen wallet. A new account that you didn´t open and do not control is a serious threat to your credit and identity.
9. Learn from the experience. If you’ve already dealt with a lost wallet or stolen wallet, be sure you are prepared to handle the same situation, were it to happen again. Use these tips, and consider signing up for identity theft protection that combines daily credit monitoring with advanced detection and support features.
Identity Safety Tips from ProtectMyID can help save you money and HEADACHES!