Graduates May be Easy Targets for Identity Theft

CANOGA PARK, Calif.--(BUSINESS WIRE)--

While Pomp and Circumstance may be over for new high school and college graduates, the experts at CreditReport.com want graduates to take notice: the summer may not be as carefree as they think.

According to industry statistics, graduates fall within the age group that accounts for one third of all identity theft victims. There are close to nine million identity theft victims a year, and according to the Federal Trade Commission’s 2007 report on identity theft, about one third of those victims are between 18 and 29 years old.

"Many grads don’t realize that it doesn't take a well-established credit history to become a victim. Unfortunately, this younger age group tends to be less proactive in guarding its credit exposure. It's further complicated by the fact that young adults also tend to take more risks such as posting personal information online," said Nancy Beyer, consultant at CreditReport.com and a credit specialist with over 20 years experience in credit and identity theft services.

There are simple steps every graduate can take to minimize his or her credit exposure and reduce the risk of becoming a victim. While there is no fool-proof method to guarantee you will not become an identity theft victim, there are precautions that will help to minimize credit exposure. CreditReport.com offers these Top Ten Tips for Graduates:

1. Shred all documents, pre-approved credit offers and anything else with personally identifying information before tossing.

2. Keep your Social Security card in a safe place. Don’t give your Social Security number to anyone without knowing why it is needed and how it will be used.

3. Don’t carry cards that you don’t use or need. Lost and stolen cards are one of the major ways personal information falls into the wrong hands.

4. Exercise your right to opt out of pre-approved credit and insurance offers. Optoutprescreen.com is the official site maintained by the credit bureaus for this purpose. (Note: you will have to give your Social Security number to opt out.)

5. Protect your mail. Unsecured mailboxes have become treasure chests to identity thieves who look for bank and credit card statements or payments or pre-approved credit offers.

6. Protect your computer by installing and using anti-virus software and firewalls on your computers.

7. Use strong PINs and passwords and change them frequently.

8. Monitor accounts between statements.

9. Take a few minutes to read user agreements to make sure you aren’t compromising your personal information for something free.

10. Maintain privacy when you write checks or use a debit card or ATM machine.

Put Your Credit Report To Work

Sometimes being careful isn’t enough. The reality is there is just too much information available in places where you have absolutely no control. Keeping tabs on your credit report is essential because that’s often where identity theft first shows up.

Credit monitoring services, like CreditReport.com, check your credit report daily and email you whenever something important changes. Credit monitoring services do have limitations. Creditors aren’t required to check your credit report before issuing credit, and some don’t report account details to the bureaus. But, even with their limitations credit monitoring can be an effective way to protect you from identity theft. Most offer a risk-free trial period.

About CreditReport.com

CreditReport.com delivers online credit reports and scores that provide individuals with their personal credit information in a secure environment. Since 1998, CreditReport.com has been a trusted point of credit information and has helped millions of consumers check their credit reports and scores. More information can be found at www.CreditReport.com.