Falling victim to identity theft can be a terrible experience. But imagine how much worse you might feel if you found out you made it possible.
Although it’s great to follow general identity theft protection tips, it’s also important to audit how you handle your sensitive information.
Find out how you might be helping identity thieves steal your personal information.
7 ways you’re helping identity thieves steal your info
If you’re looking for ways to prevent identity theft, consider making changes to the little things you do every day.
Here are seven bad habits you need to break as soon as possible.
1. Not checking for tampering at the pump or ATM
One way fraudsters get your credit card number is by installing credit card skimmers over card readers at gas stations and ATMs. It can be hard to distinguish a skimmer from a real card reader.
When you swipe your card, the skimmer reads your credit card information, allowing the owner to create a fake credit card using your data.
What you can do
- Check for a tamper-proof sticker on the machine.
- Do a quick check of other pumps at the gas station to see if any card readers look different.
- Pay for gas with cash.
2. Shopping online indiscriminately
Not every website is set up to process your information securely.
The good news is it’s easy to know which websites are secure and which aren’t.
Look at the web address:
- If it says HTTP, it’s unsecure.
- If it says HTTPS, it’s secure.
If you enter credit card or other sensitive information on an HTTP site, someone can “eavesdrop” and steal the information.
What you can do
- Enter personal information only on secure websites.
- The fact that a website is secure doesn’t mean it’s safe. If you’ve never heard of the website, make sure it’s reputable. Check the URL for typos and do an internet search for reviews of the site by other users.
- Don’t enter personal information on any website while you’re on a public Wi-Fi network.
3. Opting for paper statements
Identity thieves also rummage through mailboxes to find financial statements that might have valuable personal information.
Some financial institutions try to combat this practice by sending statements in nondescript envelopes. But it’s not a guaranteed defense.
What you can do
- Opt to receive e-statements for your financial accounts. You can easily view them online.
- If you want to keep paper statements, get a P.O. box only you have access to.
- If you plan to mail anything with sensitive information, take it directly to the post office. Leaving it in your mailbox for the mail carrier makes it possible for thieves to get it.
4. Neglecting your online accounts
It takes only seconds to log in to your account online or via a mobile app and check your recent transactions.
However, despite the convenience, it can be easy to neglect this crucial task. And if you don’t check your transactions regularly, you might miss fraud as it’s happening.
For instance, I worked for a network marketing company while I was in college. One day, I spoke with a man who claimed the company owed him $300 for a charge he didn’t authorize.
As I researched the issue, I learned that someone had stolen his credit card information years before and charged more than $15,000 to the card. But because he rarely checked his online account or monthly statements, he never noticed it.
What you can do
- Use budgeting software that directly imports transactions from all your accounts in one place. That way, you don’t have to log in to each account separately.
- Have a set schedule for double-checking your recent transactions. Try to do it at least once every week or two.
- Place a fraud alert on your credit reports.
5. Using simple passwords
If you’ve spent enough time on the internet, you’ve likely read about how important it is to use complex passwords. Flying in the face of that wisdom, the most common password in 2016 was “123456,” according to Keeper Security.
You might think you’re fine as long as you don’t use one of Keeper’s 25 most common passwords. But even using, say, your daughter’s name or your cat’s name and one or two numbers isn’t enough.
Fraudsters can easily guess this type of password through social engineering. That’s the process of tricking victims into giving out personal information voluntarily.
What you can do
- Use a tool like LastPass or 1Password to generate and save unique passwords for your online accounts.
- Avoid using the same password more than once. For example, when LinkedIn suffered a data breach, someone gained access to my Walmart account because I used the same password on both websites. They spent more than $7,000 on the three cards saved in the account.
- Avoid using any personally identifiable information in your passwords.
6. Not using a shredder
Identity thieves aren’t opposed to rifling through your trash to find documents that include sensitive information. Even if you tear them up before throwing them out, it can be easy to piece them back together.
What you can do
- Buy a shredder and shred your sensitive documents before throwing them out. If you’re not sure whether something qualifies as sensitive, shred it anyway.
- If you don’t want to buy a shredder, companies like UPS and Office Depot offer shredding services for a small fee.
- Use e-statements to limit the number of documents you need to shred.
7. Answering unsolicited calls
When you get an unsolicited phone call, there’s no way to verify who’s on the line. They might be a telemarketer or a representative from your bank. Or they could be a scammer.
This is just one of the many ways fraudsters use social engineering to get sensitive information from you.
What you can do
- Never give out information like your name, birthdate, Social Security number, or account numbers in an unsolicited call. If the caller claims they’re from your bank, ask for the phone number, verify it online, and call back.
- Add your number to the National Do-Not-Call Registry. Adding your number to the list will prohibit all unsolicited sales calls by law.
The best ways to prevent identity theft involve self-evaluation
When it comes to stopping identity theft, changing the way you handle sensitive personal information can make a big difference.
Of course, it’s almost impossible to completely insulate yourself from fraud in today’s digital world. But the best way to prevent identity theft starts with giving thieves less to work with.
Interested in refinancing student loans?Here are the top 6 lenders of 2018!
|Lender||Variable APR||Eligible Degrees|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.89% APR (with Auto Pay) to 6.97% APR (with Auto Pay). Variable rate loan rates range from 2.47% APR (with Auto Pay) to 6.30% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of Month/Day/Year, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 08/21/18. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at email@example.com, or call 888-601-2801 for more information on ourstudent loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
2 Important Disclosures for Laurel Road.
Laurel Road Disclosures
APR stands for “Annual Percentage Rate.” Rates listed include a 0.25% EFT discount, for automatic payments made from a checking or savings account. Interest rates as of 11/8/2018. Rates subject to change.
Variable rate options consist of a range from 3.27% per year to 6.09% per year for a 5-year term, 4.64% per year to 6.14% per year for a 7-year term, 4.69% per year to 6.19% per year for a 10-year term, 4.94% per year to 6.44% per year for a 15-year term, or 5.19% per year to 6.69% per year for a 20-year term, with no origination fees. APR is subject to increase after consummation. The variable interest rate will change on the first day of every month (“Change Date”) if the Current Index changes. The variable interest rates are based on a Current Index, which is the 1-month London Interbank Offered Rate (LIBOR) (currency in US dollars), as published on The Wall Street Journal’s website. The variable interest rates and Annual Percentage Rate (APR) will increase or decrease when the 1-month LIBOR index changes. The variable interest rates are calculated by adding a margin ranging from 0.98% to 3.80% for the 5-year term loan, 2.35% to 3.85% for the 7-year term loan, 2.40% to 3.90% for the 10-year term loan, 2.65% to 4.15% for the 15-year term loan, and 2.90% to 4.40% for the 20-year term loan, respectively, to the 1-month LIBOR index published on the 25th day of each month immediately preceding each “Change Date,” as defined above, rounded to two decimal places, with no origination fees. If the 25th day of the month is not a business day or is a US federal holiday, the reference date will be the most recent date preceding the 25th day of the month that is a business day. The monthly payment for a sample $10,000 loan at a range of 3.27% per year to 6.09% per year for a 5-year term would be from $180.89 to $193.75. The monthly payment for a sample $10,000 loan at a range of 4.64% per year to 6.14% per year for a 7-year term would be from $139.65 to $146.76. The monthly payment for a sample $10,000 loan at a range of 4.69% per year to 6.19% per year for a 10-year term would be from $104.56 to $111.98. The monthly payment for a sample $10,000 loan at a range of 4.94% per year to 6.44% per year for a 15-year term would be from $78.77 to $86.78. The monthly payment for a sample $10,000 loan at a range of 5.19% per year to 6.69% per year for a 20-year term would be from $67.05 to $75.68.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
3 Important Disclosures for SoFi.
4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.
All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.28% effective October 10, 2018.
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|2.47% – 6.99%3||Undergrad & Graduate|
|2.47% – 6.30%1||Undergrad & Graduate|
|2.51% – 8.09%4||Undergrad & Graduate|
|3.02% – 6.44%2||Undergrad & Graduate|
|2.69% – 7.21%5||Undergrad & Graduate|
|2.79% – 8.39%6||Undergrad & Graduate|