Credit card fraud and identity theft are big concerns for consumers these days. The time and energy required to fix the damages can be daunting. Prevention is the key to saving your sanity! Here are some tips that can help keep your credit card and other personal information out of the hands of a crook.

Protect Your Cards

• Never let your card out of your sight.
• When paying a merchant, carry the card to the register and wait while the transaction is processed.
• Never lend out your credit card to anyone - even those who you think you can trust.
• Only carry cards you’ll be using and separate from your wallet or purse.

Safeguard Your Account Numbers

• Never give your account number to anyone over the phone or on the internet that you have not personnally contacted no matter how official or legitimate they may seem. Reputable and legitimate companies will never contact you for your personal information.
• Never follow an e-mail link that asks for verification of your identity by sharing personal information. These are called ‘phishing’ scams.
• Never write your account number on the check’s memo line or envelope.
• Never leave credit card receipts lying around. Shred them after you have verified them with your monthly statement.

Applications and PINs Make You Vulnerable

• Shred any credit card applications you receive regardless if they’re completed or not. Thieves can take information from an application and pass themselves off as you.
• Upon receipt, sign all credit cards
• Never carry your credit card along with your PIN. Memorize it!
• Shield your PIN number when using an ATM.

Monthy Statements / Records

• List all credit account numbers, expiration dates and contact information and keep in a secure place.
  Keep a list of all automatic payments that are authorized to each account and be sure to check for these payments each month.
• Reconcile your account with your receipts as soon as possible.
• Report any errors to the credit card company immediately.
• Notify all creditors if you change your address.

Most credit card companies have toll-free numbers and 24-hour service to deal with emergencies and are eager to help you prevent credit card fraud. According to US law, once you have reported the loss or theft of your credit card, you have no more responsibility for unauthorized charges. Your maximum liability under federal US law is $50 per credit card — and many credit card issuers will even waive that fee for good customers.

Posted in Credit Tips, Card Advice

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