TransUnion offers instant alerts feature
The feature can help you fight identity theft and fraud faster since it alerts members instantly about changes to their credit report.
TransUnion is a leader in identity theft protection and credit management. The company launched the first-ever instant alert feature, which notifies members as soon as someone applies for credit in their name.
The identity thieves are getting smarter and faster at stealing consumers’ identity and committing fraud. In order to help consumers to stay ahead of these criminals, TransUnion offers instant alerts. TransUnion now sends members an email right when they find out someone has applied for a credit in member’s name.
The instant alerts feature works as following. When someone applies for credit, the lender may send request to TransUnion to receive information on the individual. The lenders request such information to determine whether or not they should extend the line of credit to the consumer and at what interest rate. As soon as request is received by TransUnion, an instant alert is deployed via email to the member. This email will inform the member about credit application attempt. If the member is not the one applying for credit, the member can report the possible fraud to lender and to TransUnion.
While TransUnion will alert members in case of credit card application or critical change to their credit reports, it is recommended to take precautions to minimize the risk of becoming a victim of identity theft or fraud.
You can do the following:
Minimize the documents you carry with you. Do not carry extra credit cards, just one or two you will definitely need. Social Security card, birth certificate and passport are not better to be carried outside the house.
Avoid giving your personal information over the phone. Identity thieves may pose as banks or government agencies. To prevent identity theft, do not give out personal information over the phone unless you initiated the call.
Mind what you throw in trash. Shred all receipts, credit card offers, bank statements, returned checks and any other important personal information before throwing away.
Regularly check your credit reports. Checking credit reports half-yearly is enough to make sure your credit reports are accurate and to notice any suspicious activity.
Keep a list of creditors’ telephone numbers filed away. If your cards are stolen, being able to quickly alert your creditors is essential. Plus you will protect yourself from possible unauthorized charges.
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Identity theft and banking fraud concern more and more Americans, according to a recent FICO survey. And that is not a surprise as credit card fraud continues to grow, especially online fraud.
There is no foolproof way to protect yourself from fraud, but there are a few things you can do. The first and foremost thing you should do is never ever give your credit or debit card information to someone you do not know.