What is an effective method for protecting oneself from identity theft?

Monitoring credit reports regularly is an effective method for protecting oneself from identity theft because it allows individuals to keep a close eye on their financial information and identify any suspicious activities or unauthorized accounts in a timely manner. By checking credit reports frequently, individuals can spot potential signs of identity theft, such as unfamiliar inquiries or accounts that they did not open, and take appropriate action quickly. This proactive approach is crucial for minimizing damage and addressing any fraudulent activity before it escalates.

In contrast, the other methods listed are not effective or can even increase risk. Sharing personal information freely exposes individuals to greater risks, as it can be easily accessed by malicious actors. Avoiding the use of credit cards might seem like a way to prevent theft, but it doesn’t eliminate the risk of identity theft entirely, as thieves can still target personal information in other forms. Lastly, using the same password across multiple platforms creates a vulnerability; if one account is compromised, it can lead to breaches of others, making it easier for identity thieves to access sensitive information.