Three Steps to Protect Your Identity

The data breach at Target has been much in the news. It highlights the fact that once our personal data is collected we have limited control over who gets access. So as the saying goes, control what is in your power. Below are three steps you can take to protect your credit information. 1. Monitor and check all account statements at least once a month. By federal law you can not be held  liable for more than $50 in fraudulent credit card charges. Most creditors are likely to waive all charges, but you need to report the unauthorized charges. For debit cards, how much of the unauthorized charges you are liable for depends on how quickly you report the incident. Most banks will work with you.
2. Order your free credit reports annually from www.annualcreditreport.com . This is the only federally authorized site to get a free report.
3. Consider putting a security freeze on your credit  reports. The freeze stops access to your credit reports without your authorization. This stops a potential thief from opening new accounts in your name, but there are advantages & disadvantages. For more information about security freezes, visit our web site http://hillsborough.ifas.ufl.edu/tampa-bay-saves and click the hot topics link in the financial management section.