Too often we hear a story on the news about how our information has been stolen from a retail store we shop at frequently. You may be wondering: Why does this keep happening? How do I protect myself? Here are some tips for preventing identity theft while shopping at retailers.
Criminals choose retail over banks.
The sad fact is that criminals choose retail locations rather than banking locations because there is far less security. In fact, many retail locations have little to no security methods in place to protect your information from being stolen. Less and less do cashiers ask to see your identification before allowing your card to process. How are these locations supposed to stop identity theft?
Banks have an ongoing argument with retail locations about identity theft because of their weak security. Your banking institution is often left to clean up the mess after a store has experienced a leak. If you’re ever worried about your identity, you can always approach one of the three credit reporting companies (Experian, Equifax, and TransUnion) or your bank. All of this means it’s up to you to protect yourself, but here's how.
Don’t open several store accounts.
The most important thing you can do is never allow a store to have too much information. This statement means not opening store accounts if possible and avoiding lines of credit at retail locations where you don’t need it. When you do open store accounts, don’t allow the retail location to store your information in its system. Instead, opt out and state that you don’t wish the store to have your phone number, address, and other such information. Give as little information as possible. Only open lines of credit when it's absolutely necessary.
Freeze cards you don’t use often.
We’ve all been in a store where opening a line of credit seemed all too easy. Fortunately, you can have these cards closed. It impacts your credit to close these accounts, but it also makes your identity much safer.
Most retail locations allow you to close lines of credit quite easily by calling the customer care listed on the back of the card. Consider closing credit cards that you haven’t used in quite a while or stores which you no longer live near. Go through your wallet and clear everything out.
Get a card with a chip.
EMV chips, or Europay chips, are becoming much more popular in the States for a reason. The chip prevents someone from making in-person purchases with your card information. To buy something, the card must connect to the machine. Without the card, the transaction will not process. While it’s still possible your identity can be stolen online, it decreases the chance of theft quite a bit.
Consider the store's security.
Some retail locations have become very proactive in keeping their customers safe. You can generally ask a store what sort of security measures it has to protect you, but you can also look around. Is the store prepared if you come in with a card that uses an EMV chip? Are there other security measures in place?
While it may be rare, some stores are beginning to implement security measures like fingerprint or eyeball scanning as an identification method. These practices are being implemented in Europe and we can only hope that the United States follows suit.
