Always Cut Up Expired Cards Before Throwing Them Away

Category: Finance, Personal Finance.

Over the past several years, credit card fraud has become increasingly more common. Regardless of how cautious you may be, there is no guarantee that you will not become a victim.

It is a crime on the rise that costs credit card holders and issuers hundreds of millions of dollars annually. But there are several steps you can take to minimize your chances of falling prey to credit card fraud. If the card is lost or stolen before you sign it, anyone can sign it and use it without question, as their signature on the sale receipt will now match the signature on the card. As soon as you receive a new credit card, sign the back. Look over your monthly statements carefully and watch for any suspicious charges. Once you have notified your card issuer of an unauthorized charge by phone, follow up in writing. Notify your card issuers immediately if you notice any charges that you have not approved.

Save your charge receipts and use them to reconcile your monthly statements. Most credit card theives find the information they need from searching through the trash. Never throw your credit card statements into the garbage. Credit card bills and statements should be shredded before being discarded. Always cut up expired cards before throwing them away. Any credit card offers received by mail should also be shredded, or theives can use them to open a credit card account in your name.

The part of the card that contains the account number should be cut into pieces too small to put back together. Never give out your credit card number, or any other identifying information, over the phone unless you have initiated the call and you are sure you are speaking with a reputable company. Never write your account number on the outside of the payment envelope, or anywhere it can be seen through the envelope window. When using your credit card online, be sure the merchant web site is secure. 1If you receive any email from any company asking you to" verify your account information" , do not reply. This is a common online scam. No legitimate company will ask you to verify any information via email.

Do not fall victim to it. 1When signing a credit card receipt, put lines through any blank lines before signing. If you should lose your these items, your PIN number can be used by a thief to empty out your account. 1If you should move, be sure to update your mailing address with your credit card companies and banks, and have your mail forwarded to your new address. 1Keep a list of all your credit cards, including your account numbers, expiration dates, PINs, and the phone number for each card. This prevents someone from adding to the total later. 1Never write your PIN number on your card or keep it in your purse or wallet. Keep this list in a secure place such as a safety deposit box. YOu will need this information in the case of your cards being lost or stolen.

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