What Is Credit Protection – 5 Tips You Need To Know

what is credit protection

What Is Credit Protection – 5 Tips You Need To Know

With everything so convenient, it might be easy to let credit protection become less of a priority. In truth, you couldn’t be making a bigger mistake. The convenience of mobile devices and shared networks mean that your information is less secure than it was before. Luckily, there are steps you can take to maximize your credit protection. Read on to discover what is credit protection and the 5 key tips you need to know to make sure your information stays private.

padlock symbolizing security

Shop securely

So what is credit protection and why should you care? Even if you’re shopping online with a brand you trust, it can be difficult to know whether the shop is legitimately secure. More and more companies are falling victim to information breaches.

If you’re part of a breach, that means your financial and credit information can be leaked to whoever is on the other side.

When you’re shopping online, make sure the pages on which you submit your information are encrypted.

You can tell a page is encrypted by looking at the address bar. If the web address has a lock icon next to it and begins with “https,” you’re likely in the clear.

Also, make sure you’re only using credit cards while on your own private WiFi network. If your connection is public, it may not be secure as you think. This means your information could come under fire.

Guard key information

Don’t throw your credit information around. Don’t be afraid to be skeptical if somebody you don’t trust is asking about it.

If you aren’t buying anything, there’s a big chance that whoever’s requesting it doesn’t need it in the first place.

Make sure you’re savvy when it comes to requests regarding your financial information. If a bank or the government requests your social security or credit card info, there’s no shame in calling the proper customer service lines to verify.

keyboard signifying cyber security

Check your accounts

If you monitor your accounts and credit report regularly, you’ll be able to catch any malicious transactions as soon as they happen. This is a great way to catch fraudulent charges fast and report them before they escalate.

Depending on which site you use to check your credit report, some may offer instant notifications when something significant changes.

There are also apps and website available that let you monitor your information all in one place.

Shred documentation

Even if it seems archaic, you don’t want your information falling into the wrong hands.

Shredding documentation is a key aspect of credit protection. If you receive anything on paper with your credit information, shred it before discarding it.

This stops thieves in their tracks. If they want your financial info, they’re going to get it – even if it means digging through your trash to find your information. Think ahead of them.

Secure your accounts

Make sure your accounts offer multiple-step verification. While you may feel safe with a strong password, one of the most secure ways to make sure your information stays safe is to include two-step verification on any financial websites.

Also, you’ll want to make sure that your accounts are as secure as they can be. Generate a random password loaded with letters and numbers to make it harder to guess.

mobile phone secure

Credit protection: keep your information safe

Don’t take any chances when it comes to your credit. If it falls into the wrong hands, it could prove disastrous for your financial future.

Keep these steps in mind the next time you deal with anything financial, and your credit will stay clean and safe.

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4 Comments

  1. Hello Patrick,

    I was in the military for 9 years, and they always talked about information security. It’s so easy to nonchalantly put your phone or purse down, and with all of the things we do on phones nowadays, someone could access quite a bit by picking it up.

    Each of the things you mentioned: shopping securely, guarding information, and the other credit protection advice you gave was a good refresher for me. I separated in 2015 from the military, and since, I haven’t had the constant reminders.

    Thanks for the reminder!

    • No problem Tiffany.  Happy to help out.

      Consumers are going to have to be more vigilant these days.  There are scammers everywhere, so it’s a good idea to have some form of credit protection.

      Lots of companies today are training there employees to be more security aware while performing their jobs.  Just like the military is doing everything they can to protect the country, businesses are working double time to protect their assets.

      When it comes to our personal information we should emulate the military and business by using all the available tools at hand to protect our identities and personal assets.

      There are lots of great tools out there today that can help achieve this purpose.  I encourage everyone to take the time to get more informed.  You can start here at Credit Squared as we have other great articles on how to protect your credit.

      Thanks for your service.

      Patrick

  2. Security is a real thing and something that is incredibly daunting.

    With the number of breaches these days at large companies, there seems to be so much personal data at risk.

    It almost seems impossible to protect yourself at the end of the day. Having some knowledge about what steps I can take to be as vigilant as possible is nice to have!

    • Security is big.  If you’re not informed, youre at risk.

      You should take all the important steps necessary to ensure you are doing everything you can to maximize credit protection.

      Always monitor your accounts.  Many credit card companies and banks offer mobile alerts to give you a heads up when a transaction doesn’t seem right.

      Check both your bank statements and credit card statements for activity you don’t recognize and report it immediately.

      Protect your personal information and don’t pass it around.

      If you feel uncomfortable providing your personal data to an unfamiliar provider, don’t.  You should always feel confident in the services you are using online.

      If it doesn’t feel right, move on.

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