Anyone can be a victim of identity theft. Unfortunately, since young people are less likely to monitor their credit and may make themselves especially vulnerable to identity thieves, students at all levels are a common victim of identity theft.
Think Your Child is Too Young to Be the Victim of Identity Theft?
Think again! Whether your child is six years old and is just starting school, or is eighteen and going off to college, he can be a target and victim of identity theft for many reasons. By taking a few simple steps to safeguard his identity, you can help prevent your child from becoming the next victim of identity theft.
There are many actions you can take to reduce the risk of your child becoming a victim of identity theft. The first thing you need to do is setup a system for keeping tabs on your child’s credit. We recommend creating a Credit Calendar to make it easy and free to monitor his credit and be alerted of any suspicious activity all year round.
Here’s how a Credit Calendar works to help prevent your child from being a victim of identity theft: There are three credit bureaus, Equifax, Experian, and Transunion, and each bureau allows you to order your child’s credit report for free once every year. Use your child’s Credit Calendar to record when you can order your child’s credit report from each agency. You’ll request a report from one of the three credit bureaus every four months, on a rotating schedule, to ensure there is no lapse in his credit monitoring each year.
Begin protecting your child from being a victim of identity theft by creating his Credit Calendar today. Here’s the contact information for the three credit bureaus:
o Equifax: 800.685.1111 and Equifax.com
o Experian: 888.397.3742 and Experian.com
o Transunion: 800.680.7289 and Transunion.com
Child Credit Card Offers: Clear Signs Your Child Is the Victim of Identity Theft:
Your mail carrier may be the one to deliver the news that your child has become a victim of identity theft. If your child begins to receive credit card applications in the mail, it’s very likely that he is a victim of identity theft. A typical scenario is that someone steals a child’s Social Security Number, creates a new identity, and uses that new identity to obtain credit. Of course, this can destroy your child’s credit, not to mention his good name, before he’s even old enough to actually use his own credit!
So, what’s the identity of that “someone” who stole your child’s personal information and made him an unwitting victim of identity theft? Studies show that the most common child identity thief is a close relative, including a parent or childcare provider. Indeed, vigilance is vital to protecting your child from being a victim of ID theft.
A Growing Threat: College Students Are a Leading Target and Victim of Identity Theft:
By the time he’s ready for college, your child may be smarter but, unfortunately, being smart doesn’t necessarily correlate to avoiding becoming the victim of identity theft. According to the Federal Trade Commission (FTC), the fastest and largest growing group most susceptible to being a victim of ID theft is people between the ages of 18 and 29.
A college student often becomes a victim of ID theft because he makes personal information available to other students, including his Social Security number, address, credit card numbers, and bank account numbers. This information can be accessed in a number of ways, such as buying products on insecure Internet sites, leaving credit card offers in plain sight in the dorm, and not properly protecting student loan information.
Act Now to Help Your College-Age Child Avoid Being the Victim of Identity Theft!
There are many actions your college age child can take to prevent ID theft:
o If he hasn’t done so already, it’s time to create that Credit Calendar to regularly keep track of his credit with the three credit bureaus
o Shred every credit card application that arrives in the mail
o Be careful when obtaining school-branded credit cards, which often contain such incentives as free gift cards, tee-shirts, and pizza when he applies
In addition to the damage inflicted by identity thieves on your child’s credit, many employers also review credit reports of job candidates. As competition for the best jobs increases, you don’t want your child’s future to be jeopardized simply because you didn’t take the proper precautions to avoid becoming a victim of ID theft from the time he began his education to the time he began his career. Whether you have a young child just starting first grade or a teenager ready to start college, now is the time to take action to prevent him from being another victim of ID theft.
