Millions of people fall victim to identity fraud every year. The number seems to be decreasing over the past couple of years, but too many in my opinion.
Protecting confidential information
- Never give out your Social Security number unless absolutely necessary for what you need to do.
- Even if you need to give it out, make sure you know exactly who you are giving it to. It is not enough to arrange them. Know the other side and what they are doing, how they will use that number, and where their privacy policy is located.
- Don’t carry your Social Security card anywhere.
- Get a paper shredder so that no one can gather important information (at least disassemble the documents yourself)
- Protect these PINs. Cover the numeric keypad when you enter contacts at an ATM and don’t tell anyone about them. Also, never use something like 1234 as a pin.
- Pay a little more for an unregistered number. Again, fewer telemarketers mean fewer chances of you being targeted.
- Don’t write your SSN on your checks or keep your driver’s licenses with your SSN card. If something is lost, at least the scammers only have one piece of information, not everything about you.
- Don’t trust anyone on the phone. Never give anything over the phone. It’s too dangerous.
- Do not store confidential information in your car. Credit cards, statements, checks are non.
- Buy a safe. Better yet, get a safe at a bank where you can place important documents.
- Educate others. If everyone teaches others about security, there will be less identity theft and fewer people trying to do it because it’s not that beneficial.
- Be careful – think about how your identity could be stolen whenever you deal with your sensitive information.
- Be Calm and Patient – Don’t do anything with checks, credit cards, SSNs, and more when you’re in a rush.
- When checking, always draw a line after writing the amount in English (or in numbers).
- Credit reporting and monitoring
- Register with a loan monitoring company.
- Freezing your loan. You can call credit reporting agencies to freeze your loan so that no one can apply for a credit card or get a loan under their own name until you unfreeze it. It will cost money, but the mind might be worth it.
- Get free credit reports for you to check (remember, unless you cancel your membership, they will charge you a monthly fee)
Know credit cards
- Always know how many credit cards you have. While most people believe that cutting down on used credit cards and not canceling them is better for your credit score, you run the risk of forcing others to make fake cards because you lose information on how many accounts you have opened.
- Getting credit cards – never leave them even if he doesn’t have a full credit card number. Gas stations, restaurants are two places that I see receipts all the time.
- Instead of signing your credit card, write “Check ID”.
- If your credit card company offers it, select the card that has your photo on it.
- Create a list of phone numbers and credit cards you have (it doesn’t really matter that you write down the full credit card numbers on it, but if you do, be sure to leave it in a safe place). If your wallet is stolen, you can quickly call all card companies to cancel these cards.
- Single credit card numbers. Some credit card companies will generate a “one-time” number for use on the Internet. Consider using them seriously.
Computers and the Internet
- Only shop online through trusted websites. Things like the Trust-e symbol should be better than a business bureau seal.
- Install an antivirus or anti-spyware on your computer and never open email links unless you’re sure it’s safe. For now, you can also use a Mac (until macs get so popular that scammers start targeting it too)
- Keep track of all your online accounts. Check your accounts regularly so it’s easy to track them online. Make sure there is nothing suspicious.
- Passwords – Never save your passwords just for convenience. It won’t take long to write it out. Also, the harder the better.
- Learn more about passwords – change them regularly.
- Security labels. Some banks are starting to offer those security tokens that change the number every few seconds as additional security on your password when you log into your online account. Take advantage if you offer them.
- Do not sign in to accounts using public computers.
- Protect your mail and mailboxes
- Turn your checks back as you send them so the information is facing inward
- Better yet, don’t look through the envelopes so that no one knows what’s inside.
- Limit the credit cards you have.
- Never leave bills in the mailbox for a mailman. Deliver it to the post office.
- When you move, contact all credit cards, creditors, and the IRS immediately after changing your address.
- Skip ahead to ditch the pre-screen and take a break from the mailing list that credit card companies use to send these “pre-approved spam”.
- Sign up to email your accounts – no more mail, no more possible lost mail.
- If you don’t opt for e-invoices, make sure you receive all of your invoices. The missing bill should sound with an alarm.
- Consider a mailbox for your mail if your neighbor’s mailbox is not secure enough.
- Take the mail as soon as your postman delivers it. If you pay attention, you will realize that he comes at about the same time as every working day.
The BIN database plays an important role when it comes to credit card fraud. This is the initial six-digit code of credit cards, debit cards, and gift cards, which is unique to all banks.
Learn how a bin code checker helps you in your business to validate your credit card transaction.
Features of credit cards
The essence of the credit card- a kind of consumer lending. The money is not issued in cash but is credited to the account of the plastic card, which is provided for the use of the borrower.
Credit cards are issued in most banks to citizens of the Russian Federation after submitting an application and providing the necessary documents. In some banks, you can get a card based on one passport, and the entire registration procedure takes place remotely, through the website of the selected financial institution. Other credit cards can only be collected at the branch, after verification of identity, official income, etc.
Almost every credit card has an interest-free period – this is the time when the bank does not charge the annual rate. Its duration is from 50 to 200 days, depending on the conditions of the bank. And the size of interest rates ranges from 15 to 45% per annum.
Many cards support various bonus programs, benefits, and privileges from the bank and its partners. Issuance and annual maintenance fees are not charged everywhere. It all depends on the type of card and the conditions of the bank.
How does a credit card work?
You can pay by card cashless purchases within the available credit limit. You can use a credit card on the territory of the Russian Federation, abroad, as well as pay for purchases in online stores. In addition, cash can be withdrawn from plastic.
During the activation grace period, interest rates for the use of money are not charged if you comply with all the conditions. Until the moment it expires, you need to pay the full amount of the debt. After that, the grace period is zeroed, and the funds on the card become available for use again.
The principle of the card
The grace period includes two stages: the settlement period and the payment period. Let’s say you have a credit card with an interest-free maturity of 50 days. On April 1, you made your first payment by activating the checkout date. Until the end of the month, you can freely use the money.
That is, its maximum duration is possible upon activation of the 1st day of a new month. If you used the card later, on the 5th or 7th, it will still only last until the end of the month. Therefore, in the process of selecting a credit card, consider this nuance.
You can top up your mobile account, Internet provider, and make money transfers. There is no commission for most transactions, except for transferring funds to accounts and cards of other banks.
In addition, the effect of the interest-free period may not apply to cash withdrawals.
How to pay off debt
There are several ways to top up your card balance –
- Cash at ATMs and bank cash desks.
- Transfer from another card or account.
- Using money transfer services.
- Transfer from electronic wallets.
- Pros and cons of credit cards
- Benefits of credit cards.
You always have a certain amount at hand, which you can dispose of at your own discretion.
- Loyal conditions for borrowers.
- Registration and delivery remotely.
- Various bonus programs, benefits, and privileges from the bank’s partners.
- Low maintenance cost for most cards.
Disadvantages of cards
- High-interest rates.
- Small limit when applying for a passport, without proof of income.
- Commission in case of cash withdrawal.
If you’re looking for credit card generator tools, then you’re assured that it is not that difficult nowadays.
