How Does A Data Breach Affect Your Credit Card? According to Identity Theft Resource Center in August 2018, reported about 864 U. S. data breaches, exposing 34,174,633 customer records. A data breach happens when private, personal information is stolen or illegally viewed. Computer thieves want many identities as they can get their hands on to use that info for their fraudulent acts.
However, the report of massive data breaches is becoming regular news. And it is important to note that data breach does not affect your credit. There’s a chance that nothing may happen to your credit card. Especially if the information got was not sufficient to commit identity theft. The impact of a data breach depends on the kind of information stolen.
Data Breach: Read the notification you Receive
However, the legislation was enacted on a state by state basis, requesting governmental organization. Or the private sector to always notify consumers on data breach occurrences. The law varies from states to states. It is important that when you receive such messages read it up to actually understand and map your next plan of action.
Protection of password and Username
When your unique password and Username are tag as PII. In case of a data breach, then your information a breach. Immediately change your username and password to secure hackers on your credit card account. Remember that your account is only safe by the strength of your password.
Check bank and credit card account
Moreover, with the comfort of your mobile smartphone online banking and phone apps. You can access your bank statement and transactions with ease. If you suspect any account being compromised, you need to be vigilant. Let all accounts be a review on each transaction to be sure that there are no authorized charges. If there is any discovery of authorized charges in your account, report the fraudulent activity to the bank. Report to the financial institutions and notify them of the situation.
Safeguard Your Social Security Number
Also, a Data Breach can expose your social security numbers, this can be extremely harmful to consumers. Get your credit report and thoroughly scrutinize each listed account. Hence, pay attention to any new account opened or hard inquiries made within the time frame of the breach.
Even if your social security number is compromised, consumers can request a fraud alert or credit freeze on their files. When this is applying it restricts access to your credit card report. And prevent credit card issuers or other lenders from accessing your report
Another issue, it that thieves may file a tax return in your name if they steal your social security number. And potentially received any refund you have due.
Data Breach: Sign up for a credit-monitoring service
Finally, many companies are a victim of the data breach. They will offer a credit-monitoring service at no cost to those affected. It is advisable that customers take advantage of this offer. Even when the services are not offered, it is wise to sign up for it.
Also, the customer has to always take any notification of any data breach serious. Routinely check on your credit card report to watch out for any unauthorized transactions.