Crucial Tips for Credit Card Protection

These days, your financial information is wearing a bull's-eye. It's the prime target of identity thieves who'd like to swipe your credit card numbers and embark on their own wild shopping sprees. Follow these tips to protect those precious digits.

Any large, well-equipped army will tell you that there's strength in numbers. But any instigator of credit card fraud will tell you that there's also weakness. If the numbers on your credit card account fall into the wrong hands, for example, you could face a lengthy battle trying to deal with the charges they're sure to make to your account. Your best defense is to protect your credit card information by safeguarding your number and acting quickly in the event your cards are stolen.

Checks and balances

When it comes time to write a check to pay for your credit card balance, don't write your credit card's full account number on the "For" line. Even though many card companies typically ask for your account number, this is a perfect opportunity for someone processing your paperwork to steal it. Instead, write only the last four digits. And never give your credit card number out to a website or over the phone unless you're absolutely certain you're dealing with a credible source.

A picture is worth a thousand dollars (or more)

It's hard to keep track of all the credit cards you have in your wallet or purse. In the event of a theft, however, you'll be asked to produce all the account number information for your cards. To avoid having to rely on your memory, make a list of your cards and their numbers. Store the information in a safe, secure area, like a safety deposit box, or a fireproof safe in your home. It'll then be easy to cancel them, if necessary.

Haste prevents waste

In the event that your credit cards are stolen, take immediate action. First, report the theft to the police in the jurisdiction where the theft occurred. Not only will you have alerted authorities, but this is considered due diligence on your part and will limit your own personal liability. You should also immediately contact the three credit bureaus (Experian, TransUnion, Equifax) and report the theft. The credit bureaus will flag your account, and anyone trying to charge a purchase to your card will need your personal approval before proceeding.

Even though credit card thieves are become craftier and more aggressive with each passing day, they're still always looking to pick the fruit hanging from the lowest branches. Make it difficult for them to access your information by being careful with your credit card number. Keep good records of your account numbers and act quickly in the event that they're lost or stolen. Make it hard for thieves to access your information, and you'll make life much easier for yourself.