Self-Service Credit Card Monitoring

Someone asked a question about identity theft protection or credit card monitoring services: Here's a "do-it-yourself" version:

1) Check your financial (checking, credit) statements when you receive them. Even better, check on-line at least weekly. One indication of impending financial fraud is the appearance of a small transaction you don't recall. The evil credit card thief will put a small charge to make sure the account is active. If that charge is accepted, larger ones will follow. Call your bank (use the number on the printed statement, not on any email you might get) and dispute the charge. Ask for (insist) for a replacement credit card, and change your PIN number.

2. Be very careful about inputting credit card numbers on web pages. Never click on a link in an email or web page that asks you to verify your numbers. Banks already know your PIN number; you don't need to tell them.

3. Get a copy of your credit report. Use the free site here (beware of advertised 'free' sites; they are not free) https://www.annualcreditreport.com/cra/index.jsp . You can get one free report each year from each of the three credit reporting companies, so do it once every four months. Print it out, and look for suspicious activity. (Other good information on that site, and here: http://www.privacyprotection.ca.gov/cover/identitytheft.htm .)

4, Invest in a shredder, and then use it. Get a locking mailbox. Remove your name from the bank solicitation lists to reduce those 'free credit card' offers (start here: http://www.dmaconsumers.org/consumerassistance.html#mail )

5. "Identity Theft Insurance" may not pay for all of your losses, or the time spent fixing things, so check the fine print in the policy.

6. And follow those other 'safe computing practices' I keep harping on. You'll find hints all over the place: Microsoft has a good privacy page ( http://www.microsoft.com/athome/security/default.mspx), and some more hints here http://digitalchoke.com/blog/showreports.php?article=reports/home-checklist.php ).

So, use these tips rather than paying for a service. But if you must spend your money, please email me your checking account information and PIN number.