Knowing that your social security number has fallen into the wrong hands has got to be everyone’s worst nightmare. Your social security number can be used to open accounts in your name, acquire access to your bank account or personal information, or perpetuate fraud in a number of ways. You should know exactly what to do if you lose your social security card or become aware that your social security number is stolen.
Dangers of Losing Your Social Security Card
It’s important to keep your SSN safe at all times. Criminals can use your social security number to:
- Apply for loans or credit cards in your name
- Commit an Account Takeover on your online banking or social media accounts to steal personal information or conduct transactions in your name
- Commit tax fraud to snag your tax refund or COVID-19 stimulus cheque
- File Unemployment claims in your name
This can have huge financial implications for you in the future, which is why you should make every effort to nip their actions in the bud.
What To Do If You Lose Your Social Security Card
The first thing you should do if you become aware that your social security number stolen or lost is to keep calm. Panicking will often lead to inaction, so keep a cool and calm head and take the necessary steps highlighted below.
Report The Loss of Your Card and Create a Fraud Alert
You should always report a stolen social security card right away. Contact your local police department and phone the local Social Security Administration to let them know what happened. You might also want to get in touch with your bank if your social security number is stolen so that they can keep an eye on your account and credit applications opened in your name.
Once you report a lost social security card, you can place a credit freeze on your card or apply for an alert that will let you know if your card is used for suspicious activity. You can then apply for a new card to replace the one that has been lost or stolen.
Order a Free Credit Report
You can ask your bank and credit bureaus to monitor your SSN for suspicious activity, but you should also do a little digging on your own. Order a credit report from Equifax, Experian, or TransUnion and carefully review it for any transactions or accounts that you don’t recognize. Report suspicious activity immediately. You should also carefully review all your financial statements for credit cards or accounts that you did not authorize and report any inaccuracies to your creditors.
Review Your Social Security Statement
You can create an online account at SSA.gov and download an earnings statement. This may help you detect identity fraud early on.
Sign Up For Identity Theft Protection Services
If you are really concerned about your identity being stolen, you can sign up for Identity Theft Protection. These service providers will protect your credit by monitoring activity conducted using your social security number. They will also report any suspicious activity and provide advice along the way.
Stay Vigilant
Once your card has been lost or stolen, scammers may try to get even more information from you. They may give you a call stating that there is a problem with your social security account and use the details from your card to convince you that they are legitimate. They will ask you to disclose your address, credit card information, or other details to perpetrate fraud. Be careful and always try to verify information with the relevant authorities before disclosing any information to a third party.
When you receive your new card, don’t carry it with you unless you absolutely have to. Protect your new card carefully and be extremely cautious about disclosing personal information to anyone.
Now you know what to do if you lose your social security card! Stay calm, report the loss to the relevant authorities and keep an eye on your finances to ensure that your SSN isn’t being used for fraudulent activities that can impact your credit score.
