Have you notice that you can barley get though all your junk mail and now your kids are getting junk mail. Sometimes they are receiving magazines in their names or even pre approved credit cards. How can this be when they don't even have jobs?
Well, mom or dad you may be contributing to this madness. How many times this year have you given out your childÕs social security number? Many doctorÕs offices are asking for your childÕs social security number now and if you are like most parents you give it out and not even think twice about it. Does your child have a credit union or bank account in their name? Are your children,(with your permission) giving their contact information on kidÕs sites on the net?
These are all places that sometimes sell or share (as they like to(state) information with their partner companies. This is only one way that some of these companies get your childÕs information. Another way is if your child has a bank account. Some companies use the databases of major credit reporting companies like Trans Union, Equifax, Experian or Innovis. After obtaining data thenyour childÕs information goes into the databases with everyone else and guess whatÉthe company does not have a clue that this person is a minor.
Educate your child about the importance of their social security number and how they have a right to keep it private. Also, take note of these tips to minimize the credit madness:
Most doctors, dentists and other medical professional offices like to have social security numbers for record keeping purposes. If you are asked for your childÕs social security number find out why they need it, if you do not think that it is a viable reason, you can refuse to give it. Your child is not responsible for paying the bill and they probably already have your social security number because you are the one insured.
If your child insists on getting the latest free download (even if it is a kid's site) give your contact information.
Call The Opt-Out Department at 1-888-567-8688.You can have your family excluded for 2 years or permanently from all the pre approved credit offers that use the major credit reporting databases .
Above all, be as protective about your childÕs personal information as you are with your child. Just like we teach our children to be cautious toward strangers, we need to teach them to guard their personal information equally as well.
I am not surprised, I have heard about pets getting credit cards. But I do know that they get college students by asking them what they
THINK they will be earning when they graduate and they give them a credit card with no current job. If you use the card and you don't get a job in your field or make what the college said you would be making, you get stuck with the bills. I know because it happened to me. It took me 3 years to get a job in my field, I was making a little over minamum wage to start not the $15 college promised me I would make. And now after 4 years I was laid off and will never pay off the bills.
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