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

4 years 1 week 6 days 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
COLUMBIA - Local non-profit group Resident Arts and Columbia's Office of Cultural Affairs will hold a final public meeting Wednesday... More >>
1 hour ago Wednesday, September 26 2018 Sep 26, 2018 Wednesday, September 26, 2018 5:33:00 AM CDT September 26, 2018 in News
ST. LOUIS (AP) — A quirk in the mail delivery system that forced some rural Missouri residents living along the... More >>
1 hour ago Wednesday, September 26 2018 Sep 26, 2018 Wednesday, September 26, 2018 5:16:15 AM CDT September 26, 2018 in News
COLUMBIA- The Columbia Community Land Trust is meeting in hopes to add more low-income housing to Columbia in the near-future.... More >>
11 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 7:33:00 PM CDT September 25, 2018 in News
JEFFERSON CITY - After cross examination Tuesday, the defense in the Missouri Voter ID trial presented their first witness in... More >>
12 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 7:08:00 PM CDT September 25, 2018 in News
COLUMBIA - Hundreds of students registered to vote on the University of Missouri campus Tuesday. The Associated Students of... More >>
13 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 6:13:00 PM CDT September 25, 2018 in News
CANTON, MA (CNN) - Starting in January, Dunkin' Donuts will drop the "Donuts" from ads, packages and signage at new... More >>
13 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 5:39:00 PM CDT September 25, 2018 in News
JEFFERSON CITY - A police officer hurt his leg while trying to stop a man he caught breaking into a... More >>
13 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 5:31:00 PM CDT September 25, 2018 in News
JEFFERSON CITY (AP) — Screenshots of text messages show former Missouri Gov. Eric Greitens' staff used a message-deleting app on... More >>
14 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 4:33:00 PM CDT September 25, 2018 in News
COLUMBIA - Taxes on Chinese imported goods could make home building and renovating more expensive. According to CNBC ,... More >>
15 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 3:44:00 PM CDT September 25, 2018 in News
MILLER COUNTY - A tri-state drug deal operation led to a murder in Miller County in June, according to the... More >>
16 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 3:09:00 PM CDT September 25, 2018 in News
JEFFERSON CITY - A historic building in Jefferson City continues to collapse, with another piece breaking off Monday morning. ... More >>
16 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 2:42:00 PM CDT September 25, 2018 in News
JEFFERSON CITY - The plaintiff in the Missouri voter ID case presented a witness and expert Tuesday who said the... More >>
16 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 2:25:00 PM CDT September 25, 2018 in News
COLUMBIA - A teenager pleaded guilty in connection with a 2016 homicide on Claudell Lane, but prosecutors dropped a murder... More >>
19 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 11:52:00 AM CDT September 25, 2018 in News
CHILICOTHE - A Holts Summit woman convicted of murdering her husband died in prison, according to an obituary published by... More >>
19 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 11:36:00 AM CDT September 25, 2018 in News
(CNN) -- President Donald Trump stepped up to the iconic dais at the United Nations General Assembly on Tuesday on... More >>
19 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 11:17:14 AM CDT September 25, 2018 in News
JEFFERSON CITY, Mo. (AP) — Missouri Gov. Mike Parson says state tax credits for low-income housing won't be issued until... More >>
20 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 10:36:00 AM CDT September 25, 2018 in News
(CNN) -- Matthias Katsch says he was 13 years old when a priest at his Jesuit school in Berlin first... More >>
20 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 10:29:43 AM CDT September 25, 2018 in News
MARIES COUNTY - A K-9 unit found a large amount of drugs in a truck caught speeding in Vichy, the... More >>
21 hours ago Tuesday, September 25 2018 Sep 25, 2018 Tuesday, September 25, 2018 9:35:00 AM CDT September 25, 2018 in News
Columbia, MO
Broken Clouds 50°
8am 51°
9am 55°
10am 57°
11am 60°