5 Reasons You Should Replace Your Social Security Card Right Away If It Is Lost or Stolen

Financial Survival, Protect Your SSN

If you lose your social security card or have a feeling that it has been stolen, take necessary actions to replace it immediately. Your social security number is probably one of the most important form of identification you have from the government.

When stolen, someone can use your social security number to purchase property or even transact your financial accounts. In addition, criminals can use your social security card to commit crimes or even sell it to an illegal immigrant. A social security card has a number of benefits to the card holder.

Replace your card to be able to open a bank account. If your social security card is stolen, you wouldn’t be able to memorize that number for a long time. Getting a card replacement is safer especially if you want to open a bank account. Some banks require you give them your number while others ask for the card.

On average, $15 billion is stolen from Americans every year. Most, if not all, fraudulent transactions have been linked to lost or misplaced cards that weren’t replaced or reported immediately. Therefore, banks ask for other documents such as your social security card or number to help minimize identity theft.

  1. Prevent Fraud

Your social security card has both your social security number and your full names. The two pieces of information are enough for a fraudster to steal money from your bank account or engage in identity theft. With the information on your social security card, a criminal can easily access your finances.

Criminals can also open accounts, get healthcare, file fraudulent tax returns and a lot more, using your lost or stolen card. If you discover that your card has been stolen, the first thing you should do is take immediate action to protect yourself and finances from theft and fraud.

  1. Get a Passport

A passport is an important travel document. Many times you want to get out of the country for vacations or even a business meeting. When applying for a passport, you need to prove your identity. One document that can help you prove you are the person applying for a passport is the social security card.

A social security card makes it easier for your application to be approved to get a passport. So, in case you lose your card, replace it immediately.

  1. Health Insurance

Insurers need your social security number to provide you with a health insurance cover. In certain cases, insurance companies need your social security card for security reasons. You cannot afford to miss health insurance because you don’t have a social security card.

You are aware of the benefits of having health insurance cover, especially when you or your family member becomes ill and cannot afford to pay medical bills.

  1. A New Job

New employers definitely ask for social security cards for the purposes of identity and tax compliance. If your card is lost or stolen, it’s better to replace it immediately, especially if you are expecting a new job. You wouldn’t want to slow the process of starting your job.

  1. Credit Card Application

Financial institutions might also ask for your card including a copy of it to prevent fraudulent actions. Moreover, they use your social security number to verify if you are creditworthy.

Whether your card is lost, stolen or you’ve simply never applied for one, you need the card for various reasons. Make sure your card is always kept in a safe place and if possible, only walk around with a copy to help you access your number if need be.

You won’t just reduce the risk of losing your card, but also get to bring it with you only when you know you intend to use it.

Do you want to replace social security card? Contact us to find out how we can help you get replacement card ASAP.

 


 

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