Moving to a new place involves so many steps. Some are small. Some are big, but they all are important. One such important step is changing your address. You want to ensure that your letters, bills, packages, and other important mail don’t end up in your old address.
Of course, ensuring you get your mail is not the only reason why filing a change of address is essential. Here are four other equally important reasons to update your address when you move:
To Avoid Identity Theft
One of the things you should do when you move is to update your address with your creditors. Otherwise, you risk your name and other personal information being used by identity thieves to open accounts. Once they have an account in your name, these crooks can accept product deliveries purchased on your credit.
It is advisable to check your credit report with the three major credit bureaus at least once a year to ensure your address is up-to-date, and there are no suspicious inconsistencies.
To Verify Your Identity
Financial services providers, like banks and credit card companies, want to ascertain that you are who you say you are. One of the ways to do that is through address verification. Otherwise, you won’t be able to open an account or qualify for a credit card.
When you make a purchase online, your credit card company compares the billing address you’ve provided with the residential information you gave when obtaining the card. If there’s a discrepancy, your purchase could be declined.
Given this, it’s important to update your address when you move to avoid such inconveniencing and embarrassing situations.
To Update Your Driver’s License
As a driver, you are required by law to update your address with the government within 30 to 90 days of moving to a new state. Besides being a legal requirement, change of address also helps creditors and government agencies to know your current address.
This may also be beneficial in the case of a customer identification program (CIP). A credit card company can deny you a credit card simply because the residential information on your credit card application differs from that on your driver’s license.
To Help Businesses Minimize “Dirty Data”
“Dirty data” refers to a situation where a business’ database is marred with inconsistencies such as duplicate data, blank fields, and invalid residential information. This can result in inefficiencies in business operations and financial losses. Change of address is one of the ways to minimize “dirty data” as it helps reduce the percentage of undelivered mail.
Wrapping up, it can be difficult to keep your address up-to-date, especially if you are a busy person. You should realize, however, that updating your address will save you a lot of trouble. It will ensure you’re on the right side of the law, help you receive important mail on time, and protect you from identity thieves. The good thing is that you don’t have to visit the post office to update your address as Change of Address Online has made things much quicker and easier.
