There are individuals that keep a copy of social security card with them at all times. Is this something that you shouldn’t be doing? Well, it is really not a smart move to make a copy of your social security card and keep it in your possession all the time.
Pros and cons of keeping a copy of your social security card
So what are the pros and the cons of keeping a copy of social security card in your pocket all the time? For the advantages, you will be able to get it immediately. This means that you don’t have the tendency to ever forget about the social security card. You can open your bank account and request for a credit card at any given time of the day. It is also possible to submit your SSN if you are going to have a new job.
However, the advantages really end there. There is stress that comes with the probability of losing your social security number can outweigh the advantages. For instance, there are a lot of people already suffering from identity theft. In fact, it is most likely around 5% of the entire adult US population who are victims of identity theft. And a lot of them don’t even know that they are already victims.
So what exactly happens when someone stole your social security number? There is a chance that you will notice purchases that you haven’t really made. In these instances, you really want to make sure to contact your bank. Also, if it happened after losing your social security card or its copy, then there could be a possibility of identity theft.
What should you do to protect your social security card?
There are many things that you can do in order to protect your SSN. One, never bring the social security card or its copy with you. Make sure that the social security card is hidden safely in your home. Anyways, you will only need the social security card if you are about to get a new job or if you are going to open a bank account.
Also, make sure that if you filled up documents that have your social security number with it, be sure to tear it when you dispose of it. This will prevent people from using the social security number for their own use.
What if there’s already identity theft?
If there is already identity theft that is happening, it is always a smart move to report the incident to the authorities. Also, you may want to document everything. This means that you can prove to authorities that you are not doing anything wrong.
There are instances when the IRS will question the tax that you actually pay considering the discrepancy in your tax return and the amount of income that is reflected in your SSN. In addition to this, there are instances when you have no other choice but to ask for a new SSN from the social security agency. By showing all the documentation that identity theft did occur, it becomes easier to get a new social security number. However, you will have to deal with the drawbacks such as the difficulty of building your credit rating again.