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Guarding Your Credit Card Information
Jul 15, 2004

Using a good credit card can make shopping, travelling, and bill paying a dream. But it can turn into a nightmare if you don't take careful steps to secure your credit card information. The following tips will help you be on guard against hidden information thieves.


Protecting your card:

Sign the back of your new credit card as soon as you receive it. Your signature will offer an additional measure of protection against fraudulent use.

You should never leave your credit cards unattended. Card theft can happen anytime, anywhere - at work, in your car, at a restaurant or shop, or in your doctor's office.

Memorize your personal identification number (PIN). Don't write it down in your wallet or on the back of the card. Don't designate the same PIN for all your cards, and don't designate a number such as your birth date, that can be found easily in your wallet.

Shopping smarter:

Review your monthly statement carefully. Check off purchases and sales slips against your monthly statement to be sure that no fraudulent or incorrect charges have been made.

Report any errors or unknown charges immediately. Be cautious when transacting business by mail or phone. Do not give out your account number over the phone unless you initiated the call. Also, be aware that not all mail and phone solicitations are legitimate. Be cautious about offers that sound too good to be true - they probably are.

If your card is lost or stolen:

Report a lost or stolen card immediately. Stolen cards are most often used within the first few days after being lost or stolen.

Contact the credit bureaus to have a "fraud alert" placed on your file, so that any future credit applications will have to be confirmed by you over the phone. This will protect you from any additional charge accounts from being opened in your name. (Contact: Equifax, 800-685-1111, Trans Union, 800-888-4213, Experion, 888-397-3742).

Make a complete list of all your credit cards, their numbers, and the emergency contact phone numbers. Store this information in a safe place. You'll need this information to report lost or stolen cards.

Related Article: Don't be a Victim of Identity Theft >>