What might be a warning sign of identity theft?

What might be a warning sign of identity theft?

• A. Receiving a new credit card in the mail
• B. Finding unfamiliar accounts on your credit report
• C. Noticing an increase in your bank account balance
• D. Getting a notification about your account exceeding the limit

Answer: (B)

Finding unfamiliar accounts on your credit report is indeed a warning sign of identity theft. When someone gains unauthorized access to your personal information, they may open credit accounts in your name without your knowledge. This can lead to serious financial consequences, as you might be held responsible for debts that you did not incur. Monitoring your credit report regularly is essential, as it can help you quickly identify any discrepancies or unfamiliar accounts that could indicate identity theft. In contrast, receiving a new credit card in the mail could simply mean that a bank has issued a card for an application you submitted or an account you've actively managed. Noticing an increase in your bank account balance may be a sign of normal transactions or deposits, rather than any indication of theft. Similarly, getting a notification about your account exceeding the limit could relate to personal spending habits and not necessarily signal identity theft. Thus, recognizing unfamiliar accounts on your credit report serves as a clear and actionable warning that something may be wrong with your identity security.

Finding unfamiliar accounts on your credit report is indeed a warning sign of identity theft. When someone gains unauthorized access to your personal information, they may open credit accounts in your name without your knowledge. This can lead to serious financial consequences, as you might be held responsible for debts that you did not incur. Monitoring your credit report regularly is essential, as it can help you quickly identify any discrepancies or unfamiliar accounts that could indicate identity theft.

In contrast, receiving a new credit card in the mail could simply mean that a bank has issued a card for an application you submitted or an account you've actively managed. Noticing an increase in your bank account balance may be a sign of normal transactions or deposits, rather than any indication of theft. Similarly, getting a notification about your account exceeding the limit could relate to personal spending habits and not necessarily signal identity theft. Thus, recognizing unfamiliar accounts on your credit report serves as a clear and actionable warning that something may be wrong with your identity security.