Emergency Preparedness: Managing Credit Cards

KA BOOM! You know the drill on being prepared for the Fourth of July. Have fun, enjoy the pancake breakfast, the parade, games, da bluff, and, if you can stay awake, the fireworks. Of course, I mean, watching the displays and not DIY with your own. Anyway, have a blast and make it a SAFE AND FUN Fourth of July.
Last month we discussed handling the ever present and ongoing threat of identity fraud by managing passwords, securing your Social Security Number (SSN), and protecting online accounts to prevent a host of tricks and attempts to invade your personal identity and steal your personal assets. What about managing your credit cards? Paying with credit cards is a common method for making daily purchases, since these transactions are more secure than debit cards and can offer more overall legal protection, as well as avoiding liability for stolen or lost cards, among other perks.
While the United States is implementing chip credit cards to combat identity theft, the crime is not going away anytime soon. In fact, year-over, stolen credit card information is the top crime committed against households. For those who are affluent and between 3 and 54 years old, their chances of identity theft increase. That certainly shouldn’t make you feel any safer if you are older than 54. Sorry.
Here are some ways to secure your credit card information:
■ Write only the last four digits of your account number in the check memo line when paying your bills.
■ NEVER write your account number on the outside of a payment envelope.
■ Shred all sensitive documents that you no longer need to save.
■ Review accounts regularly to identify irregular activity.
■ Monitor your credit by requesting a credit report every 4 months, rotating between a different agency each time.
■ Keep a list of your credit card numbers and their toll free customer service numbers in a safe place at home.
Ultimately, safeguarding your credit requires you to take extra precautions across a variety of financial matters. While no single step can totally shelter you, protecting yourself on and offline will put you on a better path to financial security. MORE TO COME
—Kent Wellbrock