Credit Fraud Protection: Do You Need It?

In 2008 almost 10 million victims were affected by scams and fraud escalating the much needed credit fraud protection to a more mandatory safeguard. And if that still doesn’t move you towards more protection, just think of never being able to receive credit in your name again. Think that’s harsh? It’s happened to millions of people who believe that since they’ve done nothing wrong they won’t have to suffer any consequences. You may not be responsible for compensating defrauded companies but your credit report will certainly suffer the consequences.

Each year millions of victims try to save their credit and go through turmoil trying to explain “it just wasn’t me who ran up those charges.” It can take years before you actually clear up all the fraudulent charges and trade lines showing up on your credit report.

As technology improves so does a thief’s chances improve to access our information and credit fraud protection has never been as necessary as it is today. The scary part is that before you find out about the fraud your credit has already been harmed. Most thieves don’t want the hassle of keeping credit card numbers so they6 just sell it on the open market of the world wide web.

Credit fraud protection companies like Lifelock (read a detailed lifelock review) uses early trends and identifiers to notify you when fraud is considered and that’s the most important thing here – time is of the essence. One important feature of Lifelock is a proactive check of any type of account whether it is credit cards, utilities or payday loans. Keep in mind there are many credit categories including secured credit cards and retail credit so here’s another reason credit fraud protection is so important.

I’m guessing you’ve already heard that technology will transform more personal records like health and dental. As of right now, our personal records will soon be available online for any doctor, dentist and ambulatory technician to access.

Everyone will assure us of the security details and hacker-proof technology to keep our records safe however it always begins this way but doesn’t remain safe for long. Along with our health records will be our personal data like social security numbers, health care numbers, and of course any form of payment you regularly use – credit cards, checking accounts, everything.

Credit fraud protection has become a mandatory necessary that unfortunately cannot be accomplished with simple checks and balances anymore. Whether you invest in a service to oversee all your credit fraud protection needs or you decide to do it yourself, make sure you have all the bases covered without any loopholes.