Daily Preparedness

Using ‘plastic’ money can be a great way to track expenses and consolidate your bill paying, but that plastic should come with a bit of a warning label. Credit card fraud is on the rise, as is the fraudulent use of checking accounts. Common sense and a healthy dose of forewarning are your best protections! Keep these pointers in mind and you will be spared the agony accompanying the all-too common crime of credit card fraud:

1. Don’t let your credit card out of your sight.

2. Shield your credit card number from onlookers. A new version of credit card thief is utilizing the cameras on cell phones to capture images of credit card numbers used by others in public settings such as stores.

3. Don’t process a credit card, debit card or check transaction with a clerk that is talking on the phone, particularly in a language you do not understand. This is one of the newest ways to steal your information!  Hold your card until the clerk is done or ask for the phone call to be terminated.  Better yet, shop at stores that allow you to retain custody of your card and swipe it yourself.

4. Never provide your credit card number or the cvi code on the back of the card to someone that calls you or emails you. A common scam is to inform you through a call or email that a problem has arisen with your account and they need to verify your information. NEVER utilize a link provided in an email to verify your personal information.

5. Never provide your credit card or other personal information on a website that is not a secure site.

6. Sign credit cards as soon as you receive them.

7. Shred all credit card applications you receive. Shred expired credit cards and any piece of paper with credit card information.

8. Never leave credit cards or receipts with your credit card information lying around.  Shred them!

9. In a secure place, keep a copy of all your credit cards and numbers with the phone numbers for customer service.

10. Check your monthly statements carefully. IMMEDIATELY report any charges that appear fraudulent.

11. If you even suspect that your credit card has been out of your control for any length of time, call your credit card company. Their security department should quickly verify all activity on the card, close that account and issue new cards to you.

12. Carry only the number of credit cards that you absolutely need. When traveling, it is a good idea to carry a back up card in a location other than your wallet. When traveling with another family member, have them carry a different card than you. If one is lost, you still have one between the two of you to use until the lost one can be replaced.

13. Never sign a blank or partially filled in receipt. If there are lines for tips, etc, make certain you have filled them out appropriately and put a correct total on the bottom line.

14. Carbon paper receipts are rarely used. If you do happen across a merchant still using carbon paper, ask for the carbon and then destroy it.

15. It is often best to avoid writing checks at retail establishments or to merchants you do not know. With your routing number and checking account number it is quite easy for thieves to tap into your bank account.

16. Be particularly careful with debit cards. Most debit cards do not have the same level of protection that a credit card does.

17. Periodically, get a copy of your credit bureau report. You are entitled to a yearly free copy.

18. Ask to have passwords placed on all of your accounts. This password will be required to make any changes to your account and protect you from the address being changed without you knowing it.

19. Never lend your credit card to someone else.

20. Notify your credit card in advance of any change in your address or phone numbers.  If you do not move often, periodically check to make certain that your credit card company has your correct address and phone number.  This is particularly true if you rely on electronic statements.

21. Some credit card issuers will refuse charges from little known internet sellers or unusual spending patterns. If you are planning to make a sizable purchase on a card that you do not use often for that sort of purchase, contact your credit card company in advance.

22. Before traveling overseas, ask your credit card issuer what their charges for currency exchange are as well as your protection should your card be used fraudulently outside the U.S.

23. If your credit card is lost, IMMEDIATELY contact the provider of the card. According to federal law, you are not responsible for any charges made after you have notified the issuer of the card. (This may not apply to debit cards!) Your maximum liability according to U.S. law is $50 per credit card and some issuers will waive that for good customers.

Following these guidelines will go a long way in preventing the headaches and potential of identity theft associated with check, debit card and credit card fraud.