Identity Theft Resolution (MasterCard Benefits)

Being a MasterCard card holder, one can be content with the many benefits that come with the package. These not only save time and money but also provide us with peace of mind and security.

One of the benefits that needs to be highlighted is identity theft resolution. This feature enables a card holder to plead a case against identity theft, which is when somebody else pretends to be you and opens a bank account and/or carries out fraudulent transactions using your name.

Identity theft resolution helps you in multiple ways. It facilitates the process of ID Theft Affidavit completion. It also helps in sending alerts to all the credit reporting agencies and assists in obtaining a free credit report. Furthermore, it speeds up the process of credit and charge card replacement. It also educates a card holder about identity theft and provides them with an identity theft resolution kit.

There are certain steps that should be taken if you suspect yourself of being a victim of identity theft.

Notify Reporting Agency

As soon as you start having doubts about identity theft, make a request for your credit report and review it. At the same time, contact a reporting agency and request to place a fraud alert. There are three major reporting agencies, and by calling one of these, the other two get notified automatically. These include Equifax (1-800-525-6285), TransUnion (1-800-680-7289), and Experian (1-800-397-3742).

Close Accounts

The second step is to look into the details of all the accounts that you suspect of being compromised or fraudulently opened with your identity. These accounts have to be closed at once to prevent further disruption. Write to the agencies about all accounts and transactions that you think might be fraudulent and have not been operated by you. It is advisable to maintain copies of all the correspondence to avoid any confusion.

Complaint to FTC

The next important step is to make a complaint with the Federal Trade Commission (FTC). You can easily contact FTC at their hotline (1-877-438-4338). It is important to save a copy of this complaint for future use. FTC can be contacted later as well if there is more information about the theft, after original complaint has been filed.

Report to Police

The last step is to file a police report at the local police station, nearest to the location of theft. You can request the police to attach a copy of your FTC theft complaint to their report. Again, it is highly recommended to keep the FTC report and Police report, together with the correspondence with reporting agencies and creditors, for reference.

It is important to note that in order to be eligible for this feature you have to be a valid primary cardholder having your name embossed on the credit card. In addition to this, you have to be a resident of United States as the service is not available in other regions.

The identity theft resolution is provided to MasterCard holders free of cost. The financial institutions do not charge any added fees. Moreover, the service is available round the clock, throughout the year.