Data breaches have become a normal way of life with multiple data violation cases reported daily. There may not be an ideal way of preventing violation of data. However, credit bureaus and card issuers are now providing their customers with free tools to help them keep track of their credit and personal data. Here is an illustration of modern-day data breaches and how to safeguard your financial information.

How Can You Safeguard Your Information?

Data breaches have affected numerous consumers with the number still rising. This has prompted financial service providers to adopt robust strategies to give their consumers authority to control and take part in securing their information. Below are some strategies from top companies:

Access Your Credit Reports Free of Charge

Consumers have previously been limited to one free copy of their credit report, annually. Monitoring reports was a difficult task as consumers had to pay for it. Many of them, therefore, were either reluctant to pay for the reports or didn’t see the need to. Today, service providers and an influx of websites providing free financial reports, enabling their consumers to keep a tab on their credit reports regularly.

Free Credit Freezes Will Soon be the Norm

As technology advances and the need to give consumers authority to control their financial information rises, credit bureaus are working in ways to offer freezes for free. Presently, credit freeze costs vary depending on the region.  A credit freeze allows consumers to lock up their credit in order to bar opening of new accounts. A credit freeze comes in handy to curb identity theft.

Use of Virtual Numbers

Financial information can also be jeopardized via online shopping. Use of virtual numbers or disposable debit and credit cards for online shopping can hide the details of your card, protecting your identity. Various high-end financial providers have already embraced this concept.

Use Cash As Opposed to Cards

Many people want to earn credit card points and rewards by using them regularly. However, using cash, especially for physical transactions, cuts down the chances of losing your details to fraudsters. Opt to use your credit card in retail shops which accept chip cards for transactions conducted online.