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Indentity Theft | Identity Theft Protection | Identity Theft Prevention > Facts about Identity Theft > Identity Theft – The Ever Growing Concern For Credit Card Industry

Identity Theft – The Ever Growing Concern For Credit Card Industry

By Amanda Randell
Published: Thursday, February 20th, 2014

According to many recently published surveys, the credit card industry in the U.S. is growing at a rapid rate and some statistical reports show that at least 81% American household has at least a single credit card used by any of the family members. There is no doubt that the convenience of cashless shopping has been the major motivating factor in this regard, but if one thinks that credit card is about convenience – he is certainly making a mistake. What most credit card holders still fail to recognize is that the way they use their credit card can greatly affect them for Identity Theft and other fraudulent activities are very much prevailing in the credit card industry. People who tend to use credit cards whenever they are shopping are probably the softest targets for culprits engaged in credit card forgery and protecting one’s identity has become really important if he or she is a credit card holder and uses that card pretty frequently.

As per the FBI, every year close to 500,000 cases of identity theft take place only in the USA and it is certainly the most prevalent credit card scams in modern times. Simply speaking Identity Theft means that the social security number and pertinent financial or personal data of an individual have been compromised and are deceitfully used by frauds for their own benefit. What makes it worse is that the poor victim is completely unaware of the theft until he has suffered some significant loss.

The concern for Identity Theft is getting bigger every passing day and for people it has really become important to learn how to avoid and stay out of trouble in this respect. Here are a few things that they can do to safeguard their credit identity.

  • Be extremely careful while sharing financial information and personal data.
  • Try to avoid offers and freebies that require your credit card data for it is one of the most used means by the forgers for Identity Theft.
  • Check out your credit standing and credit card bills on a regular basis.
  • Avoid always carrying your credit card with you.

The bottom line is that every credit card user now requires being extra careful and must also be aware of his personal responsibilities to avoid any kind of credit card forgery. Remember that frauds are pretty much active and it is often a mistake committed by the user that makes him vulnerable to Identity Theft and unauthorized use of that information.

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