Shoppers Beware - Tis The Season
It's the number one complaint from consumers and it only takes a moment for you to become a victim. While you search for holiday bargains, identity thieves are searching for targets - unsuspecting consumers. Here are some tips to help you safeguard your identity and other valuables:
1) Protect your account numbers - Most stores only print the last four or five digits of the charge account on your receipt. However, some stores haven't caught up with technology. If the merchant makes an impression of your charge card, be sure to ask for any carbons that are part of the receipt. "Dumpster divers" can lift account numbers from discarded carbons to steal your identity and your account information.
2) Protect Your Social Security Number - If you are asked to provide a SSN when making a purchase, challenge the cashier as to why they need this information. Request that some other form of ID be used instead of your SSN. There is no valid reason for them to request this information. You provided it when you applied for your account so they should already have this on file.
However, if you've opened a new account, don't be surprised if the cashier asks to see some form of picture ID, such as a driver's license. Don't view this as an imposition, remember that the store is actually taking steps to protect you - making sure that you are the account holder.
3) Keep an eye on your charge cards and receipts - Don't let your charge card leave your sight. Most cashiers will keep your card so that they can verify the signature on the receipt. However, sometimes they simply swipe your card, then hand it back to you or put it on the counter for you to retrieve. Check that the card you've been given back is yours and not someone else's. Occasionally, mistakes can happen, especially when the store is busy.
Also, make sure that you take your receipts with you. You'll need them to verify your purchases when your bills come in January and February.
4) Watch for pickpockets - Professional pickpockets love the holiday shopping season. Open backpacks, large shopping bags and unstrapped purses are a pickpockets dream. "Be wary of the distractions around you, because that's what the pickpockets like. They usually work in teams," said Edward Gross, a Chicago police officer. "They usually work in teams. For example, one of the team members fakes a fall and when an innocent person tries to help that's when the other pickpocket lifts the victim's wallet."
5) Use a credit card and a secure site when shopping online - Paying by credit card is the safest way to pay online. It protects your legal right to dispute charges for goods or services never received, never ordered or misrepresented.
When you get to the merchant's payment page, the "http" at the beginning of the url address should change to "https" or "shttp". This is a sign that the site is encrypting or scrambling your credit card information as you send it to them. Many browsers will even alert you of this via a pop-up window. Whenever possible, print and keep a receipt of your online transaction in case you need it later.
Happy Holidays!
About The Author
© 2004, www.yourfreecreditreportnow.com
James H. Dimmitt is editor of "TO YOUR CREDIT", a weekly free newsletter to help you manage your personal finances. Subscribe to the newsletter by visiting http://www.yourfreecreditreportnow.com. He is also author of "Identity Theft - How to Avoid Becoming the Next Victim!" available at http://tinyurl.com/bc45.
MORE RESOURCES:
 Boston Globe | US August consumer credit falls by $7.88 billion, first decline in ... Forbes, NY - WASHINGTON (Thomson Financial) - Americans unexpectedly decreased their credit borrowing for the first time in more than ten years, mostly cutting back on ... Video: Bernanke: More Economic Pain Ahead Stocks down despite government moves to free up credit Consumers Trim Their Borrowing |
US consumer credit posts worst drop ever National Post, Canada - US consumer credit plummeted by US$7.9-billion dollars in August - its sharpest drop on record, US Federal Reserve figures showed Tuesday. ... US consumer credit declines for first time in over decade Consumer Credit Drops for First Time in 10 Years US Consumer Credit Dropped by the Most on Record (Update1) |
 AFP | Credit cards next in line for tightening Atlanta Journal Constitution, USA - By MARK GONGLOFF As consumers watch their wealth disappear in the markets, some are also at risk of losing one of their last spending lifelines: credit ... Down drops additional 508 points as investors wait to see if ... Consumer debt shrinks for the first time in 10 years US August Consumer Credit Falls at Fastest Pace in Over a Decade |
 Reuters | With Credit Drying Up, Car Buyers Bring Cash New York Times, United States - Tighter credit was a crucial factor in the stunning 26.6-percent drop in September vehicle sales in the United States. In September, sales fell below 1 ... Credit crunch hits auto market's weak link 700 US dealerships could close this year, says head of dealer group Auto dealers looking for the end of the credit crisis tunnel |
 Reuters | Former AIG CEOs back credit default swap regulation Reuters - N: Quote, Profile, Research, Stock Buzz) said they would back regulation of the credit default swaps market in testimony at the US House Oversight and ... Unregulated swaps hastened Wall Street collapse New York insurance regulator calls for regulation of credit ... Greenberg Says Federal Loan to AIG Is Bad Deal |
 The Associated Press | Fear gripping Wall Street Minneapolis Star Tribune, MN - With the flow of credit still tight, investors have fixated on the threat of a serious recession despite increasingly urgent attempts by policymakers to ... Business Highlights A 5-year low Stocks fluctuate after Fed corporate debt plan |
 Thanh Nien Daily | Credit gears of commerce are still jammed Houston Chronicle, United States - By MADLEN READ AP NEW YORK — The jammed credit markets barely budged Monday as governments around the world scrambled to prop up their failing banks and ... The Bailout, and a Keen Eye on Fixed Income Credit woes: More than home loans Credit still tight after House OK's bailout |
 RTE.ie | Crude Oil Falls as Demand Slumps, Credit Market Turmoil Worsens Bloomberg - Global stock markets have plunged as banks freeze credit lines to investors and companies. ``Demand destruction is prevalent in developed countries with ... Canada energy stocks slump on credit woes, outlook Crude Oil Falls as Worsening Credit Crisis May Curb Fuel Demand |
Corporate America Credit Union and FIMAC Reach Agreement to Offer ... MarketWatch - Based in Birmingham, Alabama, CACU has over $1.4 billion in assets, and serves the financial needs of 174 member credit unions. ... |
 Voice of America | Small US Businesses Feel Pinch of Tightened Credit Voice of America - By Mike O'Sullivan As the US Federal Reserve System announced measures to ease the credit crisis Tuesday, small business owners around the United States say ... |
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