Your New Year’s Resolution
By Bob McDonnellOne New Year’s Resolution this year that will save you endless worries and protect you from consumer scams: check your credit report.
Identity theft is one of the fastest growing crimes in the United States. In 2005 identity theft complaints made up 37 percent of all fraud complaints in the nation. Virginia ranks 17th in the nation in the total number of known identity theft victims. You can keep tabs on your credit – making sure no one’s been tampering with your financial information or making unauthorized purchases – and thereby minimize the effects of being an identity theft victim.
Federal law requires each of the three national credit bureaus (Equifax.com, Experian.com and TransUnion.com) to provide one free credit report per year to you upon request.
The easiest, cheapest and safest way to do this is to go to www.AnnualCreditReport.com. It is secure. It is the only site supported by the Federal Trade Commission. It is the only tool supported by all three national credit agencies.
For more on AnnualCreditReport.com, plus additional tips, FAQs, helpful links, and contact info, visit my consumer Web site: www.vaag.com/consumer.
Other resolutions that you can easily keep, to stay safe in the New Year:
Don’t lose your gift card. (Chances are, someone gave you a gift card over the holidays. After all, consumers spent about $25 billion on them this season, up from $18 billion last year.) Ask about expiration dates and fees, such as transaction, balance inquiry or inactivity fees, so it doesn’t expire on you.
Pay by charge or credit card. Your transaction will be protected by the federal Fair Credit Billing Act, which gives you the right to dispute unauthorized charges.
Hopefully these are resolutions that you can easily keep, to stay safe in the New Year.
We take consumer protection seriously in the Office of the Attorney General, and our staff can help with identity theft prevention. In an age of increased scams by mail, phone and over the Internet, Virginians must be educated and vigilant.