Identity Thieves Want Your Credit Cards

Credit card fraud is the leading result of identity theft. Thieves who steal other people's identities often use them to open new lines of credit. Once a thief has your name, birth date, and Social Security number, they can start filling out credit card applications. If you receive many offers of pre-screened credit in the mail, identity thieves don't even need to fill out an application - the card issuer did all the work for them! Some of these letters contain real credit cards. Calling an 800 number to activate them is all that's required.
Identity thieves can also take over your existing accounts by pretending to be you. They call up the bank, verify your personal details, and change the PINs, passwords, and addresses associated with accounts. This is a nightmare for the actual account holder, who then has to spend time and money reclaiming their identity and their credit cards.
To fight credit card fraud before it devastates your credit, check your credit report regularly. Credit monitoring services will alert you to any changes on your credit report. Also, check your monthly credit card statements very carefully. Any suspicious activity warrants a call to your card issuer.