When your credit card or bank accounts are compromised by a data breach, like the ones that affected millions of Home Depot and Target consumers, take these three steps to protect yourself:
#1 Watch Out For Scammers
After a breach, scammers send texts, emails and make calls that seem like they’re coming from the company whose data was breached.
This communication, known as phishing, might include the personal information that was stolen by the hackers.
Don’t be fooled because your bank account, Social Security, or credit card number is mentioned.
If you have questions, reach out to the company that issued the card or your bank representative.
- Don’t respond.
- Don’t give any additional information.
- Delete the emails and texts.
- Hang up on callers.
#2 Watch Your Accounts
Review your bank and credit card statements as soon as they arrive. Report suspicious activity immediately to protect your rights as a consumer.
The easiest way to keep an eye on your credit is to purchase a credit monitoring service that sends you an alert when your balance changes or a new account is opened in your name.
You can also monitor your credit by asking for a free copy of your credit report three times a year from AnnualCreditReport.com, or by calling (877) 322-8228.
You can pull one credit report a year from each bureau. Since there are three bureaus, you can pull your credit report every four months or so for free.
Some websites, including Credit Karma and Credit Sesame, offer free credit scores and monitoring.
#3 Consider Freezing Your Credit
A credit freeze isn’t going to stop the hackers from using your stolen credit card information to make charges, but it will stop new accounts from being opened in your name.
While your credit is frozen, however, you can’t open new accounts. That’s an issue if you’re in the process of getting a mortgage, applying for a job, renting an apartment or buying insurance.
The Federal Trade Commission has a great article that explains how a credit freeze works.
To freeze your credit, contact the three credit bureaus:
Equifax (800) 525-6285
Experian (888) 397-3742
TransUnion (800) 680-7289
