Using balance and transaction alerts to protect yourself from identity theft

When it comes to identity theft, timing is absolutely everything. That’s why an extra set of eyes monitoring your credit cards and bank accounts can really come in handy — and here’s how you do it.

In today’s episode of Your Money minute with Tracy Stewart, CPA, let’s talk about setting up transaction and balance alerts for your credit card and bank accounts. Trust me, getting a text or email when something seems awry with one of your accounts is priceless!

It’s important to talk with the issuer of your credit card or your bank to make sure they offer this type of service. In today’s market, I honestly believe this is a must-have when opening a new account — so consider these features when shopping around.

For many accounts, you can have alerts sent when your balance reaches a certain threshold, when purchases are made that exceed a specific dollar amount or daily balance reminders. I have a card that will trigger a phone call when suspicious purchases are made outside of my local area. You deserve this level of personalized service, and it’s a game changer for thwarting identity thieves.

Financial independence is unbelievably liberating. Don’t work hard to fund the fraudulent activities of thieves who want to take that financial independence from you!

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