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Occupational Health and Safety  » Credit Card Safety Tips

Credit Card Safety Tips

Credit cards are one of the great conveniences of modern life.

They eliminate the need to carry around large amounts of cash

for large purchases or emergencies. They make it possible to

make online and mail order purchases without having to wait for

the post office to send your check to the merchant. All of this

power creates new risks to your finances. Fortunately, it's easy

to protect yourself with just a few simple steps.

First: Keep a copy of your credit card number and the issuer's

phone number somewhere safe - i.e. not in your wallet. This is

in case your credit card is lost or stolen you can report it

quickly. This is especially important when you go on vacation as

you won't have easy access to a copy of your billing statement.

Also, make sure that strangers will not have access to this

information - i.e. keep it locked up.

Second: If your credit card is lost or stolen, report it to the

issuer immediately. Yes, your credit card agreement probably

says you are only liable for $50 of any charges the thief makes,

but this is usually contingent upon you reporting the loss in a

timely manner. Besides, you cannot use your credit card in

physical stores unless you have the actual card and your card

issuer will not send you a new one unless you report the loss.

Third: Do not give out your credit card number to any company

that calls you out of the blue. Sure, they could be a legitimate

company offering legitimate services, but you have no way of

knowing that. They very well could be a scammer that just wants

your credit card number so they can either use it or resell it.

If the company has a product that you want to purchase, look

them up in the phone book and check with the Better Business

Bureau. If it is a charity, have them send you a donation card

in the mail. Any reputable charity will do so. While you are

waiting for the card, do a little research on the charity. Check

them out with the Better Business Bureau's charity division. If

they check out with the BBB, then you can contact them and make

your purchase or donation.

Fourth: Monitor your statement closely. Look for any charges

that you did not make. If you are sure you did not make them,

report them to your credit card issuer. This is similar to the

recommendation to monitor your credit report once or twice per

year, but you can and should check your credit card statement

every month.

Fifth: When you use your card in public try to keep the number

hidden. Thieves will try to get your credit card number any way

they can. That includes looking over your shoulder and

memorizing it while you are in line at the store. An easy way to

keep the number hidden is to keep your finger over the numbers

on one side and keep the other side close to your body. A better

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way is to keep the card in your wallet as long as possible and

put it right back in your wallet as soon as you can.

Sixth: Shred your statements and receipts when you dispose of

them. Dumpster diving is a great source of personal info and

your credit card statements have your credit card number of

them. Before you put your statements in the trash, shred them. A

shredder that cuts paper into little bits of confetti is

preferable to one that just cuts strips. Strips are relatively

easy to reassemble into a readable piece of paper. With bits of

confetti, it is much more difficult. If you want to be really

safe, you should probably burn the bits of confetti, but most

thieves will move on to an easier target rather than trying to

collect and reassemble the bits of your statement.

It may sound like a lot of work, but it boils down to keeping

your credit card number out of the hands of people who have no

legitimate need to have it. Would you hand out your Social

Security Number to just anyone? Of course not. Treat your credit

card number the same sort of protection. With these few simple

steps, you can protect yourself and your credit from thieves.

About the author:

Web Credit Card Review, credit card

reviews marketplace for the people, has been in business

since 2005.