Like most things in life, the element of credit scams has evolved into a higher form. Those who are intent on stealing your identity and profiting from your good credit are taking the high-tech or the extremely convincing route to take advantage of you.

No longer do thieve just walk up and pick your pocket for a credit card or blatantly send you an email trying to get you to divulge your personal financial information. Now, theyre farming for information from consumers who are very protective of their identity and theyre getting them to hand it over!

Its a new scam and judging from the alarming number of cases, it could happen to you tomorrow. Thieves have discovered a way to brand themselves as legitimate so that you never think twice about telling them your account information and passwords.

As you probably know, identity theft is a growing problem. In fact, experts have declared it an epidemic. If you havent checked your credit report lately to see if someone has been using credit in your name, then you might be at risk and not even know it.

It takes a lot of time and hassle to clear up identity theft cases, so you want to prevent yourself from becoming a victim before it happens. See if this sounds familiar to you and if it does, order your credit report today and cross your fingers that you havent been duped!

It starts off with a seemingly innocent phone call or email. You have a credit card or bank account in, lets say, XYZ Companys name. A representative supposedly from the company calls (or emails you) to tell you that a charge of $1,500 is being processed and that they just wanted to be sure, since it was such a large purchase, that your identity wasnt being used improperly.

Well, of course, since you didnt make the phony charge, you instantly panic and start pleading with the representative not to allow the charge to go through. Theyve got you by an emotional hook.

Your concentration is on the panic of an unauthorized charge. The person calling is just making a friendly call to alert you theyre on your side you think. So the bells and sirens dont go off in your head.

The caller knows your name, address, phone number, and account number. It all seems legitimate. You dont even flinch when they ask to confirm some information with you while they reject the charge because youre so relieved that the representative is willing to fix this problem for you and protect you.

You rattle off your PIN (personal identification number), the security digits on the back of the credit card, and any other information they need to handle the investigation. If youve ordered anything online or via phone lately, then you know everyone now requires the three to seven digit code on the back something most thieves dont already have.

As you thank the representative repeatedly and hang up from the call, the person on the other end is either already charging up on your card or theyve moved on to harvest this information from another unsuspecting consumer.

The call is so convincing because these people identify themselves with authority. They say theyre from the investigation division of XYZ Credit Card Company. They know your contact information and account number.

They may even give you their direct phone line and extension which are just made up numbers because by the time they hang up with you, you wont be able to call them back. Some have even stated a badge identification number.

Sometimes, theyll even throw in a few specific details about the crime. They may tell you that a white man, aged 25-30 with brown hair and a beard was seen on security cameras using your credit card number to buy a 52 Plasma screen TV set at ABC Store in Dallas, Texas.

Your mind is spinning. You never realize youre putting your credit at risk if you answer this persons questions. They tell you that theyre going to open a fraud investigation on this individual and in order to activate the investigation, they just need you to confirm some information.

Some of it truly will be confirmation. Theyll repeat your name and address and maybe even your account number. But theyll also need YOU to confirm some information details they dont have like your PIN or your security code.

Theyll appease your suspicions by telling you to just call the toll-free number on the back of your card if you want an update on the case, and then theyll tell you what your case number is.

The way they ask for your security code is by saying they need to verify that youre in possession of the card at this time. You verify it by handing your info over to a thief! You think its to make sure your card hasnt been lost or stolen, but at that exact moment, it has been!

So how do you react if this happens to you? First, never give out any information. Instead, call the credit card company directly and ask to speak to their fraud division. Call the number on the back of the card not any number the caller gives you.

If you give out the information and plan on verifying the next day, it may be too late. As many people mired in trying to get identity theft charges off of their credit report will tell you, dont hesitate to report your suspicions.