Young adults ages 18 to 24 at biggest risk for credit card fraud

3 years 8 months 1 week ago Friday, September 12 2014 Sep 12, 2014 Friday, September 12, 2014 2:00:00 PM CDT September 12, 2014 in News
By: Maddison Hill, KOMU 8 Reporter
loading

COLUMBIA - With school back in session, the mid-Missouri Better Business Bureau is concerned with students and credit card fraud.

The mid-Missouri Better Business Bureau manager Mike Harrison said that young adults ages 18 to 24 are at the greatest risk for identity theft and credit card fraud. He said he thinks it is due to the generations comfort with sharing personal information.

"It is easy to over share information via social media, we don't realize how much information is out there, including our name, phone numbers, and birth dates," Harrison said. "A lot of identity thieves actually troll those websites and what is scary about it is they can open a credit profile with your information."

Harrison said this age group is also at risk due to their lack of established credit.

"It is attractive to them because most college students have a relatively clean credit history and so it is easy to set up credit using their information," Harrison said. "It can sometimes take a while before college students know that their identity has been stolen."

Harrison said on average, it takes young adults about 130 days to find out their identity has been stolen compared to other age groups. He also said that on average, 18 to 24 year olds lose about 11 hundred dollars, which is five times more than other age groups.

"That's why there is a concern with this group, so we just encourage them to start forming financial habits now and hope that they stay with them for a lifetime," Harrison said.

One Columbia parent Deb Linneman has a child who is a senior at MU. She said she has began teaching her daughter certain financial habits, like checking her bank statement regularly. Just in case, her and her husband still double check.

"We get statements at home, and even though they claim they look online, we still like to check that too," Linneman said.

Linneman does these things to make sure her daughter doesn't end up like sophomore student Ally McElroy. She has had her identity stolen twice in the last year.

"The first time was over the summer, someone stole my credit card in New York," McElroy said. "They spent about two thousand dollars on gas and food and things like that."

It took McElroy three months to realize her credit card was stolen. She didn't realize it until after her credit card continually got denied.

McElroy said the second time she ran into trouble was when she had her social security number stolen due to her dad filling out a FAFSA form on a fake website. This time she noticed it much earlier.

"The second time I realized a lot quicker because I had been keeping up with my bank accounts, and checking my statements more regularly," McElroy said. "It definitely was an eye opener."

Besides checking your bank statements regularly, Harrison also mentioned some other helpful tips for young adults. These tips include, updating your social media privacy settings, getting a personal P.O. box, and shred any credit card offers received in the mail.

 

More News

Grid
List
JEFFERSON CITY (AP) — Missourians who are moving outdoors as the weather should keep their eyes open for snakes. ... More >>
43 minutes ago Saturday, May 26 2018 May 26, 2018 Saturday, May 26, 2018 10:21:00 AM CDT May 26, 2018 in News
(CNN) -- The counting of votes was underway Saturday following Ireland's referendum to lift the... More >>
4 hours ago Saturday, May 26 2018 May 26, 2018 Saturday, May 26, 2018 6:43:00 AM CDT May 26, 2018 in News
NEW BLOOMFIELD - New Bloomfield has a new mayor, but it's the way he was selected that has a group... More >>
13 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 9:26:00 PM CDT May 25, 2018 in News
KANSAS CITY, Mo. (AP) — The ACLU of Missouri is suing the Independence School District on behalf of a senior... More >>
16 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 6:35:52 PM CDT May 25, 2018 in News
COLUMBIA - The Thornbrook neighborhood was without water and electricity for almost two hours on Friday. Columbia Water and... More >>
17 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 5:36:00 PM CDT May 25, 2018 in News
CALLAWAY COUNTY – Four vehicle crashes have occurred this week along State Road F west of Fulton in Callaway County.... More >>
18 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 4:12:00 PM CDT May 25, 2018 in News
COLUMBIA – After serving eight years in the United States Air Force, the passion of this veteran for sky travel... More >>
19 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 3:50:00 PM CDT May 25, 2018 in News
JEFFERSON CITY - In another day of political theater, the special House committee investigating Governor Eric Greitens heard new testimony... More >>
19 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 3:15:00 PM CDT May 25, 2018 in News
COLUMBIA- Organizers are expecting a large turnout for the 30th annual "Salute to Veterans" airshow on Memorial Day weekend. ... More >>
20 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 2:53:00 PM CDT May 25, 2018 in News
COLUMBIA- When most people lose an animal, one of the first steps is to put a "missing" sign on a... More >>
20 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 2:46:00 PM CDT May 25, 2018 in News
COLUMBIA - Aircraft and pilots met at Columbia Regional Airport Friday to prepare for the 30th annual "Salute to Veterans"... More >>
20 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 2:45:00 PM CDT May 25, 2018 in News
CALIFORNIA - A high-speed car chase ended Sunday when the suspect slid into a ditch, according to a press release... More >>
20 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 2:30:00 PM CDT May 25, 2018 in News
JEFFERSON CITY- It's no secret more cars will out for Memorial Day weekend, but many drivers are taking precautions before... More >>
20 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 2:16:00 PM CDT May 25, 2018 in News
JEFFERSON CITY - More than five hundred Missourians have lost their hunting, fishing and trapping licenses after a Department of... More >>
21 hours ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 1:48:00 PM CDT May 25, 2018 in News
HARRISONVILLE (AP) — Authorities say a 12-year-old western Missouri boy fought off an attempted abduction by hitting the... More >>
1 day ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 8:53:00 AM CDT May 25, 2018 in News
COLUMBIA - Missouri State Highway Patrol is investigating an early morning crash on I-70 Westbound. It caused major backups... More >>
1 day ago Friday, May 25 2018 May 25, 2018 Friday, May 25, 2018 8:47:00 AM CDT May 25, 2018 in News
COLUMBIA - On Thursday, the Columbia Airport Advisory Board announced the TSA approved a security screening lane to open by... More >>
1 day ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 11:41:00 PM CDT May 24, 2018 in News
COLUMBIA- May is known for Mother’s day, Memorial Day and in Missouri, the start of tick season. “May, June... More >>
1 day ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 8:21:00 PM CDT May 24, 2018 in News
Columbia, MO
Broken Clouds 79°
11am 84°
12pm 86°
1pm 89°
2pm 91°