How to Protect Your Credit Card Balance from Identity Thieves

For most of us, thinking like a criminal doesn’t come naturally. Thank Gosh! We just assume that when we put a credit card statement in the rubbish, nobody will see it again … and that only people who are going to send cards would want to know your kids birthdays. Unfortunately, ID thieves can get your personal details from a range of fairly accessible means. Here we look at how to protect your credit cards, credit history, and your entire life from identity thieves.

Get a post office box

Mailbox theft can and does occur – the simplest way to protect against it is to get a private post office box. If an ID thief chances upon your credit card statement, they instantly have your number and expiry date – enough to order almost anything.

Shred your mail

A personal shredder costs about $40, but could save you thousands. Shred anything that has so much as your name on it before putting it in the bin.

Keep your social media profiles private and limit your friend numbers

Hopefully everybody now knows where to find the Privacy settings for their Facebook or Myspace account, and has them set to the highest security level. However, you should also do a regular ‘clean-out’ of your friend list. All those people that you met once at a bar and that you used to work with 20 years ago are a security risk, not a badge of honour.

Stealing your wallet

This is an old-fashioned method. You should not only cancel any credit cards that get stolen, but change your PIN or password for any plastic card you had in your wallet at the time. If your wallet is stolen, be especially vigilant about checking transactions for at least 6 months afterwards.

Check your credit report periodically

If an identity thief has taken out a loan in your name, but with a different address, you might never be aware of it until far too late. Avoid this by periodically checking your credit report – every 3 months or so.