How to Foil Identity Thieves

Wired ran an article on identity theft recently, and it includes some excellent information.  Here are the highlights.

There’s an economic incentive to grant credit sloppily, which is why dogs and toddlers can get credit cards,” Hoofnagle said. “If the business community wanted to end identity theft, they could.

Here’s what we are doing: 

• Opt out of pre-screened credit card offerings that come in the mail by calling 888-5OPTOUT (888-567-8688). This prevents would-be identity thieves from stealing your mail and then getting credit in your name.  Shred credit applications before putting them in the trash.
• Check your credit reports frequently. Federal law allows you to get a free credit report from each of the three credit bureaus once a year. Mark your calendar every four months and check one bureau each go-round to make sure there are no accounts in your name that you haven’t opened.