Investing What You Can
Fighting Credit Card Theft
In this column we usually talk about investing what you can to build for the future, but this time we want to focus on protecting yourself from identity and credit card theft. Without prompt, proper action, this type of thievery can create an unbearable future in many regards.
Step one happens right now, before you’re a victim. Create a secure document that includes all of your financial and identity account names, numbers (both sides) and expiration dates. Include customer service phone numbers so you can make immediate contact.
If you suspect a problem has occurred, move immediately. Contact every affected card issuer to file a theft report. Follow up with a letter that confirms the substance of the conversation, including who you spoke with and when the call was made. Then contact the three major credit report agencies to post a fraud alert on all of your cards. If your loss includes a driver’s license or social security card, notify the appropriate agencies right away. Finally, contact the police in the place where you think the theft may have occurred. They may be able to help you retrieve the lost items. Identity theft of any kind can lead to lengthy and costly ordeals for the victim. It’s critical to be proactive every step of the way to minimize the damage.
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