Identity Theft Can Destroy Your Life

It is a very common advice given by the credit card consultants that you should not close your idle credit card accounts as they will help you build a better credit history. However, idle credit card accounts can be double edged swords. A credit card identity thief can easily use your idle accounts to do illegal activities.

Identity thieves can change the address on your idle credit card accounts to procure a new credit card in the new address sighting the reason that you have lost the original card whose address they changed. They can also open new accounts in your name to do virtually anything they want. The longer these thieves remain unspotted, the more damage your financial condition will have to bear.

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Why Identity Theft Flourishes in College Campuses

Identity theft involves representing others identity in order to perform illegal acts that can inflict considerable damage to the credit history of the person whose identity was used to perform identity theft. Recent surveys have demonstrated that people falling in the age category of 18-29 are most vulnerable to identity theft. This unlawful act has been a regular feature of college campuses.

There are some specific reasons for the flourishing of identity theft in college campuses. One of the major reasons is that college students are required to reveal their social security numbers for several purposes including receiving grades, registering for classes and securing housing records and other student files. Other primary reasons include neglect of credit card issues and ready availability of credit to college students.

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How to Tackle Identity Theft?

Identity theft can happen to anybody at any time. Whenever you find indications of identity theft you should perform the following actions to ensure minimum damage to your account and to prevent future thefts. Contact the fraud department of the three major credit bureaus - Experian, TransUnion, Equifax. Do not use any other means than telephone to make this contact. Inform the Federal Trade Commission (FTC) by calling 1-877-438-4338. Inform the state police. This way you are alerting the police of a criminal act and helping them find those who are responsible for this crime. Inform your creditors and any other creditors that identity theft has happened to you.

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