Everybody knows that protecting their credit from identify theft has become an important part of life. According to a recent study by the Federal Reserve, almost 80 percent of seniors have credit scores of 701 or better, and another 10 percent have scores of 660 to 700. These high scores should qualify most seniors for the lowest interest rates. If you can qualify for a lower interest rate that you are currently getting, by all means do so. Of course, credit thieves target seniors as they know their credit is usually excellent.

You must also protect yourself against people stealing your identity and against fraud. Never give personal information to someone you don’t know and trust. This is especially true of your Social Security number, date of birth, bank account number, credit card numbers, and home address. Do not keep your Social Security number in your purse or wallet, and carry as little identifying information as possible. Make a photocopy of what you do carry with you and keep it in a safe place that you can refer to in case your purse or wallet is stolen or misplaced.

One of the most common scams is for a bogus credit card company to ask you to pay upfront to get approved for their credit card. Legitimate credit card companies don’t require upfront payment. Also remember that if a deal sounds too good to be true, it usually is. You can verify the legitimacy of offers you receive with your local Better Business Bureau at http://www.bbb.org/.